U.S. glass and glass product manufacturing prices fell from April to May, reports the U.S. Bureau of Labor Statistics. The bureau’s monthly Producer Price Index (PPI) indicates that glass and glass product manufacturing prices decreased by 0.7% in May 2023, following a revised 0.1% decline in April. Year-over-year, glass and glass product manufacturing prices remain up by 9.9%.
May’s PPI declined overall by 0.3%, which can be traced to a 1.6% decline in final demand for goods. PPI is a key measure of U.S. inflation that monitors the wholesale prices producers receive for goods and services.
“May 2023’s PPI decline is the fourth monthly fall in the Final Demand index over the past six months, going back to the closing month of 2022,” writes Kurt Rankin, a senior economist at PNC Bank. “Producer input costs appear to have been fully tamed and should not pose pass-through cost issues for the Federal Reserve as it continues its efforts to extinguish consumer price inflation in the coming months.”
Glass and Glazing Material Prices
Flat Glass – Flat glass prices decreased by 1.1% following an adjusted 0.1% increase in April. The drop in flat glass prices is the first decline since January 2023, when prices fell by 0.5%. Year-over-year flat glass prices are up 8.0%.
Flat Glass Manufacturing – Prices for flat glass manufacturing fell by 1.1% in May. This follows a revised 0.5% increase in April, the only increase in 2023. Year-over-year, the segment’s prices are up 9.1%.
Fabricated Structural Metal Products – Prices for fabricated structural metal products, including metal doors and windows, decreased by 0.3% in May. Year-over-year, prices for fabricated structural metal products are down 1.8%.
Ornamental and Architectural Metalwork – The segment’s prices increased by 0.1% in May. The segment has yet to post a price decrease in 2023. However, year-over-year prices are down 0.1%.
Metal Windows – Metal window prices remained unchanged in May. The segment’s prices have only increased by 0.1% in the past five months. The price for metal windows is up 1.9% compared to a year ago.
Metal Doors and Frames – Metal door and frame prices flattened in May. Year-over-year, prices for the segment are up 2.3%.
Builders’ Hardware – Prices for builders’ hardware, which includes door and window hardware, were stagnant in May. Prices for the segment increased by 0.1% in April. Builders’ hardware prices are 4.6% higher than a year ago.