The price for glass and glass product manufacturing decreased by 0.1% in July 2023, according to the U.S. Department of Labor (DOL). The department released its monthly Producer Price Index (PPI) on Friday, Aug. 11, 2023, showing that the overall PPI for final demand increased by 0.3% in July.
PPI is a key measure of U.S. inflation that monitors the wholesale prices producers receive for goods and services.
Kurt Rankin, senior economist for PNC Financial Services, told media outlets that services and demand for services propelled the increases in July’s PPI.
“The inflation story now, be it for producers or consumers, is demand,” he told CNN. “Mainly, that’s consumers still spending money on services.”
While prices for final demand increased this past month, the price of glass-related products showed some stability throughout the value chain. However, year-over-year prices for glass products and manufacturing remain elevated at 7.7% compared to this time last year.
Glass and Glazing Material Prices
Flat Glass – Prices for flat glass jumped 0.3% in July. This follows a revised 0.4% increase in June. Flat glass product prices had decreased by a revised 0.6% in May, 0.3% in April and 0.2% in March. Year-over-year, flat glass prices are up by 6.9%.
Flat Glass Manufacturing – The price for manufacturing flat glass dropped 0.1% in July, following a revised 0.5% increase in June. Before the revision, DOL had reported that flat glass manufacturing prices in June had increased by 2.1%. Year-over-year, flat glass manufacturing prices remain up 7.7%.
Fabricated Structural Metal Products – Two consecutive months of price declines ended in July as DOL reports that the PPI for fabricated structural metal products increased by 0.1%. The segment’s prices had declined by a revised 0.8% in June and 0.5% in May. Year-over-year, prices for this segment are down 2%.
Ornamental and Architectural Metalwork – The PPI for ornamental and architectural metalwork declined by 0.1% for the second straight month. Year-over-year, ornamental and architectural metalwork prices are down 2%.
Metal Windows – Metal window prices declined yet again as DOL reports that the segment’s PPI fell by 0.2% in July. This follows a revised 0.4% decrease in June. Year-over-year, metal window prices are up 1%.
Metal Doors and Frames – The PPI for metal doors and frames declined by 0.1% for the second consecutive month. Metal door and frame prices last increased in April (0.8%). Year-over-year, prices for metal doors and frames are up 1.2%.
Builders’ Hardware – The prices of builders’ hardware, which includes window hardware, remained flat in July. This is the third consecutive month that the segment’s PPI remained unchanged. Year-over-year, prices for builders’ hardware are up 1.3%.