Prices for materials used in the auto glass industry saw mostly decreases in October 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 October in the commodity category on a year-over-year basis. The PPI also went down by 0.2% 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 remained decreased by 0.3% from October 2018, and in that index, in the commodity grouping, month-over-month prices decreased by 0.2%.
The PPI for molded rubber mechanical goods (automotive) remained the same when compared to its reading last month, and saw a decrease of 1.6% when compared to last year. Adhesives and sealants remained the same when 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 0.6% on a month-over-month basis, as well as another increase of 4.1% for the year.
The cost of private passenger auto insurance services increased by 0.2% when compared to last month as well as increasing by 3.3% on a year-over-year basis. Commercial auto insurance went down by 0.2% on a month-over-month basis and was up 2.1% year over year.