Prices for materials used in the auto glass industry showed mostly increases in February 2021, 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 and decreased by .01% from January 2021. 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 0.3% from February 2020, and in that index, in the commodity grouping, month-over-month prices decreased by 0.1% from January 2021.
The PPI for molded rubber mechanical goods (automotive) decreased by 0.7% when compared to its reading in February 2020, and went up by 1% 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 0.3%, as well as going up by 2.1% over February of last year.
The cost of private passenger auto insurance services dropped by 0.1% when compared to last month, and saw a decrease of 0.2% on a year-over-year basis. Commercial auto insurance saw a 0.9% increase in year over year and remained the same from February 2020.
*This number is for the specialty glass category in February under the commodity category.