Prices for almost all materials used in the auto glass industry saw steady increases in February 2019, according to recently released Producer Price Index (PPI) data from the Bureau of Labor Statistics (BLS).
The monthly PPI, which includes auto glass, increased by 1.8 percent in February in the commodity category on a year-over-year basis. The PPI increased by 0.2 percent from January. 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 0.5 percent compared to February 2017, and in that index, in the commodity grouping, month-over-month prices saw a slight decline of 0.3 percent.
The PPI for molded rubber mechanical goods (automotive) remained the same when compared to its reading last month, and saw an increase of 0.3 percent when compared to last year. Adhesives and sealants increased by 0.2 compared to last month and saw an increase of 4.1 percent from last year.
Motor vehicle repair and maintenance, in the services grouping, saw an upward swing with an increase of 0.2 percent on a month-over-month basis, as well as another increase of 1.8 percent for the year.
The cost of private passenger auto insurance services saw a decrease of 0.2 percent for the month and saw an increase on 2 percent year-over-year. Commercial auto insurance was up by 0.8 percent month-over-month and up 5 percent year-over-year.