Prices for materials used in the auto glass industry showed increases in May 2020, 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% on a year-over-year basis. The PPI also grew by 0.1% 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 also increased by 0.4% from April 2019, and in that index, in the commodity grouping, month-over-month prices rose by .2%.
The PPI for molded rubber mechanical goods (automotive) remained the same when compared to its reading last month, and also saw a decrease of 1.3% when compared to last year.
Adhesives and sealants went up by 1.2% when compared to last month and saw an increase of 0.4% from last year.
Motor vehicle repair and maintenance, in the services grouping, rose by .1% on a month-over-month basis, as well as going up by 2.7% for the year.
The cost of private passenger auto insurance services increased by 0.2% when compared to last month resulting in a 2.9% increase on a year-over-year basis. Commercial auto insurance went up by 0.2% on a month-over-month basis and was up .5% year over year.
*this number is for the specialty glass category in May under the commodity category.