Prices for almost all materials used in the auto glass industry either maintained or slightly decreased in May, 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 1.2 percent in May on a year-over-year basis. The PPI for specialty glass went down 0.3 percent from March. 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 1.5 percent compared to May 2017, and in that index, in the commodity grouping, month-over-month prices increased by 0.2 percent.
The PPI for molded rubber mechanical goods (automotive) increased 0.1 percent from its May reading and decreased by 2.7 percent from a year ago. Adhesives and sealants was up 0.3 percent for the month and 2.3 percent from last year.
Motor vehicle repair and maintenance, in the services grouping, saw a price increase of 0.2 percent on a month-over-month basis, and experienced and slightly increase by 0.1 percent for the year.
The cost of private passenger auto insurance services was up just 0.2 percent monthly but drastically increased 5 percent year-over-year. Commercial auto insurance went down 0.1 percent month-over-month and up by 1 percent year-over-year.