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Friday, 17 September 2021 23:00

PPI: Automotive-Related Products Pricing Continues Positive Trend in August

Written by Rebecca Barnabi, glassBYTEs.com

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Prices for materials used in the auto glass industry showed a slight increase in August, according to recently released Producer Price Index (PPI) data from the Bureau of Labor Statistics (BLS).

The monthly PPI, which includes auto glass*, increased slightly by 0.7% from July to August, and revealed a 8.3% increase from August 2020, the largest advance since 12-month data calculation began in November 2010.

 

According to the BLS, the commodity classification “organizes products and services by similarity or material composition, regardless of the industry classification of the producing establishment.”

 

Prices for motor vehicle parts went up by 3.7% from August 2020, and in that index, in the commodity grouping and month-over-month prices increased by only 0.2% from July.

 

The PPI for molded rubber mechanical goods (automotive) showed no change when compared to its reading in July, but went up by 0.9% from August 2020.

 

Adhesives and sealants saw an increase of 0.4% from one month to the next, as well as a 6.2% increase from last year. Motor vehicle repair and maintenance, in the services grouping, also increased slightly by 0.5% over July, with a 2.1% increase from August 2020, as well.

 

The cost of private passenger auto insurance services was down 3.3% compared the same month last year, with a slight increase drop of 0.3% from July to August. On the other hand, commercial auto insurance saw no change from July and a 1.0% increase from August 2020.

 

*This number is for the specialty glass category in July under the commodity category.

 

We thank glassBYTEs.com for reprint permission.

 

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