The index for finished goods was unchanged in August, as a 1.1-percent increase in finished consumer foods prices and a 0.1-percent advance in the index for finished goods less foods and energy offset a 1.0-percent decrease in prices for finished energy goods.
Finished foods: The index for finished consumer foods jumped 1.1 percent in August, the third straight rise. Over thirty percent of the August advance can be traced to meat prices, which climbed 2.4 percent. Higher prices for processed poultry and eggs for fresh use also were major factors in the increase in the finished foods index.
Finished core: Prices for finished goods less foods and energy inched up 0.1 percent in August, the ninth consecutive advance. Over twenty percent of the August increase is attributable to the index for tires, which climbed 1.4 percent. Higher prices for radio and television communication equipment also contributed to the rise in the finished core index.
Finished energy: The index for finished energy goods fell 1.0 percent in August, the third straight decrease. Over half of the August decline is due to a 6.0-percent drop in prices for liquefied petroleum gas. Lower prices for gasoline and diesel fuel also were significant factors in the decrease in the finished energy goods index.
The Producer Price Index for intermediate materials, supplies, and components fell 0.5 percent in August, the first decrease since July 2010. Most of the August decline can be attributed to lower prices for intermediate energy goods, which dropped 2.3 percent. The index for intermediate materials less foods and energy also contributed to this decrease, edging down 0.1 percent. By contrast, prices for intermediate foods and feeds advanced 1.7 percent. On a 12-month basis, the index for intermediate goods moved up 10.3 percent in August.
Intermediate energy: The index for intermediate energy goods fell 2.3 percent in August, the largest decline since a 2.6-percent drop in July 2009. Nearly thirty percent of the August decrease can be attributed to diesel fuel prices, which fell 5.9 percent. Declines in the indexes for lubricating oil base stocks and liquefied petroleum gas also contributed to lower intermediate energy goods prices.
Intermediate core: The index for intermediate goods less foods and energy edged down 0.1 percent in August, the first decline since July 2010. In August, about eighty-five percent of the decrease can be traced to a 2.6-percent drop in prices for thermoplastic resins and materials. A decline in the index for hot rolled steel sheet and strip also contributed to lower intermediate core prices.
Intermediate foods: The index for intermediate foods and feeds rose 1.7 percent in August, the third consecutive advance. Over twenty percent of the August increase is attributable to formula feed prices, which climbed 3.7 percent.
The Producer Price Index for crude materials for further processing moved up 0.2 percent in August. For the 3-month period ending in August, prices for crude materials declined 1.6 percent following a 1.3-percent drop from February to May. In August, the increase in the crude goods index is mostly attributable to prices for crude foodstuffs and feedstuffs, which climbed 4.7 percent. Also contributing to the August advance was a 1.6-percent rise in prices for crude nonfood materials less energy. By contrast, the index for crude energy materials decreased 5.1 percent.
Crude foods: Prices for crude foodstuffs and feedstuffs jumped 4.7 percent in August. From May to August, the crude foods index rose 6.0 percent subsequent to a 0.7-percent decline for the 3 months ended in May. The monthly increase in August was led by a 9.2-percent advance in the corn index. Higher prices for slaughter steers and heifers and for slaughter chickens also were factors in the rise in the crude foods index.
Crude core: The index for crude nonfood materials less energy rose 1.6 percent in August. For the 3 months ended in August, crude core prices advanced 3.4 percent after declining 0.4 percent from February to May. In August, over half of the monthly increase is attributable to a 9.3-percent rise in prices for gold ores. An advance in the corn index also was a significant factor in higher crude core prices.
Crude energy: Prices for crude energy materials fell 5.1 percent in August. From May to August, the crude energy materials index moved down 11.4 percent following a 2.2-percent decrease for the 3-month period ending in May. The August monthly decline in crude energy prices was the result of an 11.3-percent drop in the index for crude petroleum.