Prices for materials used in the auto glass industry showed increases and decreases in December 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 slightly by 0.2% from November 2021 to December 2021, and revealed a 9.7% increase from December 2020, the largest calendar year increase since 2010. 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 5.0% from December 2020, and in that index, in the commodity grouping and month-over-month prices increased by only 0.2% from November 2021.
The PPI for molded rubber mechanical goods (automotive) showed no change from its reading in November, but went up by 1.2% from December 2020.
Adhesives and sealants saw an increase of 1.9% from one month to the next, as well as an 11.4% increase from last year. Motor vehicle repair and maintenance, in the services grouping, saw a 0.2% increase from November 2021 and a 2.6% increase from December 2020.
The cost of private passenger auto insurance services is down 2.7% compared to the same month last year, and experienced no increase from November 2021 to December 2021. On the other hand, commercial auto insurance saw a decline of 0.2% from November 2021, but a 0.8% increase from December 2020.
*This number is for the specialty glass category in December under the commodity category.