Prices for materials used in the auto glass industry showed mostly increases in October 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 1.6% on a year-over-year basis and rose 0.2% from September, from 169.9 back up to 170.2. 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 went up by 0.6% from October 2019, and in that index, in the commodity grouping, month-over-month prices rose by .6% from September as well.
The PPI for molded rubber mechanical goods (automotive) got a little boost, going up 0.1% when compared to its reading in September, but dropped 1.2% from this time last year.
Adhesives and sealants saw an increase of 0.1% from one month to the next, and a 1.3% increase from last year.
Motor vehicle repair and maintenance, in the services grouping, went up by 0.2% for the second straight month, as well as going up by 2.2% over October of last year.
The cost of private passenger auto insurance services dropped by 0.1% when compared to last month, as well as dropping 0.1% on a year-over-year basis. Commercial auto insurance saw a 3.8% increase in year over year and a 1% increase over September.
*This number is for the specialty glass category in October under the commodity category.