Prices for materials used in the auto glass industry increased in February, 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 rose only 0.5 percent in February on a year-over-year basis. The PPI for specialty glass was virtually unchanged from January, with a slight 0.1-percent increase month-over-month. 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 1.0 percent compared to February 2017, and that index, in the commodity grouping, month-over-month prices edged up 0.2 percent.
Motor vehicle repair and maintenance, in the commodity grouping, saw a price increase of 0.1 percent on a month-over-month basis, and experienced an increase of 1.6 percent for the year.
The PPI for molded rubber mechanical goods automotive went down 1.2 percent from its January reading (0.7 percent below February 2017 levels), and adhesives and sealants was up 0.1 percent for the month and 1.7 percent from last year.
The cost of private passenger auto insurance, in the industry classification, was up just 0.1 percent monthly but spiked 7.4 percent year-over-year. The industry classification measures “changes in prices received for the industry’s output sold outside the industry (that is, its net output).”
Commercial auto insurance was flat month-over-month and up just 0.1 percent for the year.