Prices for materials used in the auto glass industry showed mostly continued year-over-year increases in June 2022, 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 7.2% on a year-over-year basis but fell 0.1% from May 2022. 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% from June 2021, and in that index, in the commodity grouping, month-over-month prices increased by 0.4% from May 2022.
The PPI for molded rubber mechanical goods (automotive) rose 0.5% from its May reading, and 1.7% year-over-year. Adhesives and sealants saw an increase of 3.3% from one month to the next and a 22% increase from last year.
The monthly PPI, which includes auto glass*, increased by 7.2% on a year-over-year basis but fell 0.1% from May 2022.
Motor vehicle repair and maintenance, in the services grouping, decreased 0.2% from May 2022 but increased 3.9% from the same time last year.
The cost of private passenger auto insurance services increased 2.4% from June 2021 and 0.7% from May 2022. Commercial auto insurance saw a 1.8% decrease from June 2021 and a 1.1% increase from May 2022.
*This number is for the specialty glass category in June under the commodity category.
But yet….. auto glass installers don’t get to pass any of those costs onto the consumer. They must always find ways to absorb those costs. The insurance company will pass higher premiums onto their customers, but don’t allow us to pass any additions onto them. Frustrating.