Prices for materials used in the auto glass industry saw mostly increases in August 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 0.7% in August in the commodity category on a year-over-year basis. The PPI also went up by 0.1% from July. 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 0.1% compared to August 2018, and in that index, in the commodity grouping, month-over-month prices decreased by 0.4%.
The PPI for molded rubber mechanical goods (automotive) went up by 0.1% when compared to its reading last month, and saw a decrease of 1.6% when compared to last year. Adhesives and sealants went up by 0.1% compared to last month and saw an increase of 2% from last year.
Motor vehicle repair and maintenance, in the services grouping, saw an increase of 0.3% on a month-over-month basis, as well as another increase of 3.8% for the year.
The cost of private passenger auto insurance services saw a large increase of 2.4% for the month as well as an increase of 3.4% year-over-year. Commercial auto insurance remained the same month-over-month and was up 2.3% year-over-year.