According to the U.S. Department of Labor, manufacturing prices for glass and glass products fell 0.1% in July this year. The monthly producer price index released by the U.S. Department of Commerce on Friday (August 11, 2023) showed that the overall PPI for final demand increased by 0.3% in July 2023.
The Producer Price Index is a key measure of U.S. inflation that monitors the wholesale prices of goods and services received by producers.
Kurt Rankin, senior economist at PNC Financial Services, told the media that the July PPI increase was driven by the services sector and demand for services.
He told CNN: "The current inflation, whether it is for producers or consumers, is demand, mainly because consumers are still spending money to buy services."
Figure 1 The Producer Price Index for Glass-Related Products 1
Prices for glass-related products have remained stable across the value chain, despite higher final demand prices over the past month. However, compared with the same period last year, the year-on-year price of glass products and glass manufacturing is still as high as 7.7%.
Prices of glass and glass materials
Flat glass - the price of flat glass rose by 0.3% in July, and increased by 0.4% in June. It fell 0.6% in May, 0.3% in April, and 0.2% in March. The price of flat glass rose by 6.9% year-on-year.
Flat Glass Manufacturing - Prices for flat glass manufacturing fell 0.1 percent in July, following a revised 0.5 percent increase in June. Before the revision, the Labor Department had reported that flat glass manufacturing prices rose 2.1% in June and were still up 7.7% compared to a year earlier.
Fabricated Metal Structural Products - July ended two consecutive months of price declines. The producer price index for manufactured metal structural goods rose 0.1%, according to the Labor Department. This followed a revised 0.8% decline in June and a 0.5% decline in May, bringing market prices down 2% compared to the same period last year.
Decorative and architectural metal products - The PPI for decorative and architectural metal products fell 0.1% for the second consecutive month, and the price of decorative and architectural metal products fell 2% year-on-year.
Metal Windows - The price of metal windows has dropped again. According to the Labor Department, PPI fell 0.2% in July after falling by a revised 0.4% in June. Compared with the same period last year, metal window prices increased by 1%.
Metal doors and frames - The PPI for metal doors and frames dropped by 0.1% for the second consecutive month. Metal door and frame prices were last up in April (up 0.8%). Compared with the same period last year, the price of metal doors and frames increased by 1.2%.
Architectural Hardware - Prices for architectural hardware, including window hardware, were flat in July, the third month in a row that they were unchanged. Hardware prices for builders rose 1.3% compared to a year earlier.
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