Prices for almost all materials used in the auto glass industry saw noticeable increases in October 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 increased by 1.3 percent in October on a year-over-year basis. The PPI slightly decreased by 0.2 percent from September. 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 1.3 percent compared to October 2017, and in that index, in the commodity grouping, month-over-month prices saw an increase of 0.2 percent.
The PPI for molded rubber mechanical goods (automotive) maintained the same amount from its September reading and also slightly dipped down by 0.2 percent from last year. Adhesives and sealants increased by 0.2 compared to last month and saw a large increase of 3.5 percent from last year.
Motor vehicle repair and maintenance, in the services grouping, saw a marginal price increase of 0.1 percent on a month-over-month basis, as well as a significant increase of 3 percent for the year.
The cost of private passenger auto insurance services stayed the same monthly and rose by 3.3 percent year-over-year. Commercial auto insurance was up by 0.3 percent month-over-month and increased by 2.9 percent year-over-year.