Prices for materials used in the auto glass industry increased notably in October after months of stagnation, according to recently released Producer Price Index (PPI) data from the Bureau of Labor Statistics (BLS).
The monthly PPI for specialty glass, which includes auto glass, in the commodity category increased 0.5 percent in October—up by the same amount from a year ago. 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 were up 0.4 percent from September to October, and that index, in the commodity grouping, also represents a 0.4-percent price increase year-over-year.
Motor vehicle repair and maintenance, in the commodity grouping, saw a price decrease of 0.5 percent on a month-over-month basis, but experiences an increase of 2.4 percent for the year.
The PPI for molded rubber mechanical goods automotive went up 0.1 percent from its September reading (0.8 percent above 2016’s levels), and adhesives and sealants was down 0.2 percent for the month but up 1.7 percent from last year.
The cost of private passenger auto insurance, in the industry classification, saw a slight increase of 0.1 percent from September to October. Those prices are up 5.2 percent for the year. The industry classification measures “changes in prices received for the industry’s output sold outside the industry (that is, its net output).”
Similarly, commercial auto insurance also experienced a month-over-month uptick with an increase of 0.4 percent, and a 2.4-percent increase for the year.