The following is the unedited transcript of the news release from the U.S. Department of Labor.


The Producer Price Index for Finished Goods increased 0.2 percent in April, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This rise followed a 1.1-percent advance in March and a 0.3-percent increase in February. At the earlier stages of processing, prices received by producers of intermediate goods rose 0.9 percent following a 2.3-percent gain a month earlier, and the crude goods index advanced 3.2 percent after climbing 8.0 percent in March.

In April, the index for finished goods other than foods and energy moved up 0.4 percent and was partially offset by prices for energy goods, which fell 0.2 percent. The index for finished consumer foods was unchanged from its March level.

Before seasonal adjustment, the Producer Price Index for Finished Goods increased 0.7 percent in April to 176.7 (1982 = 100). From April 2007 to April 2008, finished goods prices rose 6.5 percent. Over the same period, the finished energy goods index advanced 17.5 percent, prices for finished goods less foods and energy increased 3.0 percent, and the index for finished consumer foods climbed 5.2 percent. For the 12 months ended April 2008, prices received by manufacturers of intermediate goods advanced 10.5 percent, and the crude goods index jumped 34.3 percent.

Finished goods

The index for finished goods less foods and energy moved up 0.4 percent in April following a 0.2-percent increase in the previous month. Prices for light motor trucks rose 1.3 percent after decreasing 0.3 percent in March. The indexes for commercial furniture and passenger cars also turned up in April following declines in the preceding month. Prices for pharmaceutical preparations, alcoholic beverages, and household furniture rose more than they had in March. By contrast, partially offsetting the acceleration in the index for finished goods less foods and energy, prices for communication and related equipment declined 0.4 percent after rising by the same rate in the prior month. The index for book publishing also turned down in April, and prices for soaps and synthetic detergents increased less than in March.

The finished energy goods index fell 0.2 percent in April subsequent to a 2.9-percent rise a month earlier. Gasoline prices decreased 4.6 percent following a 1.3-percent gain in March. (Prior to seasonal adjustment, gasoline prices increased 3.2 percent in April.) The diesel fuel index also turned down in April after rising in the preceding month. The indexes for home heating oil, liquefied petroleum gas, kerosene, and asphalt advanced less than they had in March. Conversely, residential natural gas prices climbed 5.4 percent in April after increasing 4.2 percent in the prior month. The indexes for residential electric power and for lubricating and similar oils also rose more than they had in March.

The index for finished consumer foods was unchanged in April following a 1.2-percent rise in the prior month. Prices for fresh and dry vegetables dropped 4.1 percent after jumping 15.4 percent in March. The indexes for beef and veal and for roasted coffee also turned down in April. Prices for eggs for fresh use decreased more than they had in March. By contrast, the dairy products index rose 0.4 percent in April following a 1.8-percent decline a month earlier. Prices for pork and soft drinks also turned up after declining a month earlier. The index for confectionery end products rose more than in March.

Intermediate goods

The Producer Price Index for Intermediate Materials, Supplies, and Components increased 0.9 percent in April after rising 2.3 percent in March. Leading this deceleration, prices for intermediate energy goods and for materials for durable manufacturing advanced less in April than in the prior month. Prices for intermediate foods and feeds turned down after increasing in March. By contrast, partially offsetting the overall deceleration in the intermediate goods index, prices for materials for nondurable manufacturing and for materials and components for construction increased at faster rates than they had in March. The index for intermediate goods other than foods and energy climbed 1.2 percent in April following a 1.1-percent jump in the preceding month.

The index for intermediate energy goods advanced 0.5 percent in April following a 5.9-percent jump in March. Jet fuel prices rose 6.8 percent in April compared with a 10.2-percent surge a month earlier. The indexes for home heating oil, industrial electric power, natural gas to electric utilities, and industrial natural gas also increased less than in March. Prices for diesel fuel, gasoline, and residual fuel turned down in April. By contrast, the index for finished lubricants rose 2.9 percent after advancing 1.3 percent in March.

The index for materials for durable manufacturing moved up 1.9 percent in April following a 3.8-percent increase in March. Prices for copper and brass mill shapes rose 0.4 percent in April after advancing 6.9 percent in the preceding month. The indexes for cold rolled steel sheet and strip and for secondary aluminum also climbed less than in March. Prices for primary nonferrous metals and for nonferrous wire and cable turned down in April. The index for cement fell more than it had in March. Conversely, prices for hot rolled steel bars, plates, and structural shapes increased 6.2 percent in April compared with a 2.5-percent gain a month earlier. The index for hot rolled steel sheet and strip also advanced at a faster rate than in March. Prices for prepared paint and thermoplastic resins turned up in April.

The index for intermediate foods and feeds declined 0.6 percent in April following a 2.9-percent rise in March. Leading this reversal, prices for prepared animal feeds fell 0.9 percent after increasing 4.9 percent in March. The indexes for flour; beef and veal; natural, processed, and imitation cheese; and confectionery materials also turned down in April. Prices for shortening and cooking oils advanced less than they had in March. By contrast, the index for fluid milk products moved up 2.9 percent in April following a 5.4-percent drop in the previous month. Prices for pork and for dry, condensed, and evaporated milk products also rose after falling in March. The index for malt and malt byproducts climbed more in April than in the preceding month.

The index for materials for nondurable manufacturing increased 1.7 percent in April compared with a 1.5-percent advance in March. Prices for basic inorganic chemicals surged 13.7 percent in April after rising 1.7 percent a month earlier. The indexes for primary basic organic chemicals and ethanol also climbed more than they had in March. Prices for plastic resins and materials, nitrogenates, and woodpulp turned up in April. By contrast, the index for intermediate basic organic chemicals moved up 2.1 percent following a 12.3-percent jump in March. Prices for inedible fats and oils, paper, and paint materials also rose less in April than in the previous month.

The index for materials and components for construction advanced 1.0 percent in April after rising 0.8 percent in March. Prices for fabricated structural metal products jumped 3.1 percent in April following a 1.0-percent increase in the preceding month. The indexes for concrete products and for paving mixtures and blocks also moved up more than they had in March. Prices for plumbing fixtures and brass fittings and for softwood lumber turned up in April. The index for plastic construction products fell less than in March. By contrast, prices for nonferrous wire and cable decreased 3.1 percent in April after surging 7.9 percent a month earlier. The index for prefabricated wood buildings and components also turned down in April. Prices for asphalt felts and coatings and for fabricated ferrous wire products rose less than they had in March.

Crude goods

The Producer Price Index for Crude Materials for Further Processing advanced 3.2 percent in April following an 8.0-percent increase in March. The index for crude energy materials rose at a slower rate compared with a month earlier. Prices for crude foodstuffs and feedstuffs turned down in April. By contrast, partially offsetting the deceleration in crude materials prices, the index for crude nonfood materials less energy moved up more than it had in March.

The index for crude energy materials advanced 4.1 percent in April subsequent to a 13.4- percent gain in the preceding month. Leading this deceleration, the index for crude petroleum increased 4.5 percent compared with a 17.5-percent surge in March. Similarly, natural gas prices rose 4.3 percent following an 11.4-percent increase a month earlier. By contrast, the coal index edged up 0.3 percent in April after falling 0.9 percent in the previous month.

The index for crude foodstuffs and feedstuffs decreased 0.9 percent in April following a 2.0-percent rise a month earlier. Wheat prices declined 23.1 percent after moving up 0.6 percent in March. The indexes for fresh vegetables (excluding potatoes) and soybeans also turned down in April. Prices for corn and slaughter turkeys rose less than they had in March. By contrast, the slaughter hogs index advanced 10.5 percent compared with a 1.8-percent decline in the preceding month. Prices for Irish potatoes for processing also turned up in April. The index for fluid milk declined less than it had in March, and prices for slaughter cattle were unchanged after decreasing a month earlier.

The index for crude nonfood materials less energy advanced 7.9 percent in April subsequent to a 3.5-percent rise a month earlier. Leading this acceleration, prices for iron and steel scrap surged 32.2 percent compared with a 1.4-percent increase in March. The index for logs, bolts, timber, and pulpwood also moved up more than in the previous month. Prices for iron ore increased following no change in March, while the hides and skins index turned up in April. Conversely, the nonferrous metal ores index declined 1.8 percent compared with a 6.9-percent gain a month earlier. Prices for wastepaper; construction sand, gravel, and crushed stone; and raw cotton also turned down in April. The index for nonferrous scrap advanced less than it had in March.

Net output price indexes