PPI: Automotive Sector Pricing Holds Steady

Prices for materials used in the auto glass industry either rose slightly or remained steady from November 2022 to December 2022, according to recently released Producer Price Index (PPI) data from the Bureau of Labor Statistics (BLS). Changes in year-over-year prices, on the other hand, continue to be more severe.

The monthly PPI for glass, which includes auto glass*, increased by 8% on a year-over-year basis but saw no change from November 2022. 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 increased by 2.5% from last year in that index, in the commodity grouping, while month-over-month prices showed no change from November 2022. The PPI for molded rubber mechanical goods (automotive) also did not change from its November reading, but went up by 1.3% from December 2021.

Adhesives and sealants saw an increase of 0.6% from one month to the next, and a 17.7% increase from last year. Motor vehicle repair and maintenance, in the services grouping, saw no change from November but increased 4.5% from the same time last year.

The cost of private passenger auto insurance services inched upward from November, with a 1.8% increase, and rose 6.8% over last year. Commercial auto insurance rose 0.3% from last month and fell 0.8% from December 2021.

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

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