Prices for almost all materials used in the auto glass industry saw noticeable increases in September 2018, according to recently released Producer Price Index (PPI) data from the Bureau of Labor Statistics (BLS).
The monthly PPI category that includes auto glass, in the commodity category jumped up by 1.5 percent in September on a year-over-year basis. The PPI crept up by 0.4 percent from August. 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 1.2 percent compared to September 2017, and in that index, in the commodity grouping, month-over-month prices stayed the same.
The PPI for molded rubber mechanical goods (automotive) maintained the same amount from its August reading and also went down slightly by 0.3 percent from last year. Adhesives and sealants remained the same when compared to last month and saw an increase of 3.3 percent from last year.
Motor vehicle repair and maintenance, in the services grouping, saw a drastic price increase of 1.4 percent on a month-over-month basis, as well as an increase of 3 percent for the year.
The cost of private passenger auto insurance services was up by 0.3 percent monthly and rose by 3.5 percent year-over-year. Commercial auto insurance improved by 1.2 percent month-over-month and increased by 2.8 percent year-over-year.