At the earlier stages of processing, prices received by producers of intermediate goods advanced 0.4 percent and the crude goods index fell 2.8 percent. On an unadjusted basis, prices for finished goods rose 5.3 percent for the 12 months ended May 2010. This was the second consecutive month of slowing year-over-year advances after a 6.0-percent increase for the 12 months ended March 2010.
Stage-of-Processing Analysis
Finished goods
In May, most of the decline in the index for finished goods can be attributed to lower prices for energy goods, which fell 1.5 percent. Also contributing to lower finished goods prices, the index for finished consumer foods moved down 0.6 percent. By contrast, prices for finished goods less foods and energy rose 0.2 percent.
Finished energy: The index for finished energy goods fell 1.5 percent in May, its second consecutive monthly decline. Leading the May decrease, gasoline prices dropped 7.0 percent. Lower prices for liquefied petroleum gas and home heating oil also were factors in the finished energy goods decline.
Finished foods: Prices for finished consumer foods moved down 0.6 percent in May, their second straight monthly decrease. Accounting for most of the May decline, the index for fresh and dry vegetables fell 18.0 percent. Lower prices for processed young chickens also contributed to the decrease in the finished consumer foods index.
Finished core: The index for finished goods less foods and energy advanced 0.2 percent in May, its seventh consecutive monthly rise. About forty percent of the May increase can be attributed to prices for light motor trucks, which moved up 0.8 percent.
Intermediate goods
The Producer Price Index for Intermediate Materials, Supplies, and Components rose 0.4 percent in
May, its third straight monthly advance. Accounting for three-fourths of the broad-based May increase, prices for intermediate materials less foods and energy rose 0.3 percent. The indexes for intermediate energy goods and for intermediate foods and feeds also contributed to the overall advance, moving up 0.5 and 0.4 percent, respectively. On a 12-month basis, prices for intermediate goods climbed 8.5 percent in May, the sixth consecutive month of year-over-year increases.
Intermediate core: The index for intermediate materials less foods and energy moved up 0.3 percent in May, its twelfth consecutive monthly gain. About three-fourths of the May increase can be attributed to a 3.5-percent rise in prices for steel mill products. Advances in the indexes for paperboard and for hardboard, particleboard and fiberboard products also were factors in the intermediate core increase.
Intermediate energy: The index for intermediate energy goods moved up 0.5 percent in May, its third straight monthly advance. A major factor in the May increase was a 1.1-percent rise in prices for electric power. Higher prices for natural gas to electric utilities also contributed to the intermediate energy goods advance.
Intermediate foods: Prices for intermediate foods and feeds increased 0.4 percent in May after rising 0.5 percent a month earlier. The index for meats led the May advance, climbing 4.4 percent.
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