Prices for almost all materials used in the auto glass industry mostly saw increases in May 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 0.4% in May in the commodity category on a year-over-year basis. The PPI increased by 0.2% from April. 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 0.6% compared to May 2018, and in that index, in the commodity grouping, month-over-month prices remained the same.
The PPI for molded rubber mechanical goods (automotive) declined by 0.1% when compared to its reading last month, and saw a large decrease of 1.2% when compared to last year. Adhesives and sealants decreased by 0.3% compared to last month and saw an increase of 3.6% from last year.
Motor vehicle repair and maintenance, in the services grouping, saw an increase of 1.9% on a month-over-month basis, as well as another increase of 3.7% for the year.
The cost of private passenger auto insurance services saw a slight decrease of 0.3% for the month and saw an increase on 1.5% year-over-year. Commercial auto insurance was up by 1.8% month-over-month and up 4.7% year-over-year.