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The U.S. Bureau of Labor Statistics (BLS) released its latest Producer Price Index (PPI) report last Thursday. According to the data, the PPI for glass and glass product manufacturing rose again by 0.5% in February, following a 1% increase in January. Producer costs for the industry have now risen in four of the last five months.
Compared to February 2023*, the PPI for glass and glass product manufacturing saw a year-over-year increase of 3.1%. Over the 12 months ending in February, the overall U.S. PPI rose by 3.2%, down slightly from January's 3.7%. The PPI reflects wholesale price changes in the U.S. from raw materials to finished goods and is a key indicator of manufacturing costs.
Although the final demand PPI remained unchanged in February, economists anticipate that recent tariffs implemented by the White House have influenced consumer inflation expectations and could drive further changes in the data in the coming months.
Flat Glass – Prices for flat glass increased by 0.3% in February, after January's increase was revised to 0.6%. Year-over-year, flat glass prices were up 1.4% compared to February 2023.
Flat Glass Manufacturing – Prices for flat glass manufacturing have now risen for three consecutive months. The index rose 1.5% in February**, following a revised 1% increase in December and a slight 0.1% rise in November. Compared to February 2023, prices for flat glass manufacturing were up 4%.
Fabricated Structural Metal Products – Prices for fabricated structural metal products rose 0.5% in February and 0.4% in January, following a slight 0.1% decrease in December. However, on a year-over-year basis, prices for these products were down 0.9% in February compared to February 2023.
Ornamental and Architectural Metal Work – Prices for ornamental and architectural metal work increased by 1.3% in February, the first rise since last November (when they rose 0.7%). Year-over-year, prices for this category saw a significant increase of 8.7% compared to February 2023.
Metal Windows – Prices for metal windows remained unchanged in February. Prices for this commodity have been flat in three of the past five months. The last significant change was a revised 1.1% decrease in November. Year-over-year, metal window prices were down 0.6% from February 2023. Metal windows include those with aluminum alloy or steel frames.
Metal Doors and Frames – Prices for metal doors and frames edged up 0.1% in February, following a 0.1% decrease in January. Year-over-year, prices for these products were up 2.7% compared to February 2023.
Builders' Hardware – After remaining unchanged for eight consecutive months, prices for builders' hardware rose 0.7% in February. Year-over-year, prices for builders' hardware increased by 1% compared to February 2023. Builders' hardware includes items such as locks, key blanks, and door and window fittings.