Prices for materials used in the auto glass industry showed mostly increases in May 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 both by 3.6% on a year-over-year basis and by 0.1% from April 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 0.5% from May 2020, and in that index, in the commodity grouping, but month-over-month prices decreased by 0.2% from April 2021.
The PPI for molded rubber mechanical goods (automotive) increased slightly – by 0.2% – when compared to its reading in April, and went up by 0.8% from May 2020.
Adhesives and sealants saw an increase of 1.5% from one month to the next, as well as a 3.4% increase from last year. Motor vehicle repair and maintenance, in the services grouping, also increased 2.2% over May 2020, with a 0.2% bump from April 2021, as well.
The cost of private passenger auto insurance services was down both compared to the previous month, with a drop of 0.1%, as well as on a year-over-year basis, which was down 4.6%. On the other hand, commercial auto insurance saw gains of 2.6% from April 2021 and 5.1% from May 2021.
*This number is for the specialty glass category in May under the commodity category.