Prices for glass and glass product manufacturing continue to trend downward. This is according to the U.S. Department of Labor’s (DOL) August 2023 Producer Price Index (PPI). The DOL reports that glass and glass product manufacturing prices declined by 0.8% from July to August. This follows a revised 0.6% decrease from June to July. The sector’s prices have declined in four of the past five months.
However, year-to-year prices for glass and glass product manufacturing remain elevated by 5%. PPI is a key measure of U.S. inflation that monitors the wholesale prices producers receive for goods and services.
Despite a decrease in glass and glass manufacturing prices, the overall PPI for final demand rose 0.7% in August after rising by 0.4% in July. DOL officials say the August increase is the largest rise in final demand prices since June 2022’s increase of 0.9%. Economists state the surge results from an increase in gasoline prices.
Glass and Glazing Material Prices
Flat Glass – Flat glass prices dropped by 1.2% from July to August. This follows a revised 0.7% decline from June to July. Prices for flat glass have declined in four of the past five months (prices rose 0.4% in June). Year-to-year, flat glass prices remain up 2.3%.
Flat Glass Manufacturing – Along with a drop in flat glass prices, flat glass manufacturing declined by 1.1% from July to August. The sector recorded a revised 2.5% decrease in July following two consecutive months of price increases. Year-to-year, flat glass manufacturing prices are up 4.9%.
Fabricated Structural Metal Products – Prices for fabricated structural metal products increased for the second straight month. The sector’s PPI for August rose by 0.1%, following a revised 0.4% price increase in July. The sector reported falling prices in May and June. Year-to-year, fabricated structural metal products prices are down 1.5%.
Ornamental and Architectural Metalwork – Prices for ornamental and architectural metalwork have fallen for the third consecutive month. The sector reported a 0.1% decrease in August, following a 0.1% decline in July and a 0.1% drop in June. Year-to-year, ornamental and architectural metalwork prices are down 2.2%.
Metal Windows – Metal window prices remained unchanged in August. This follows a revised 0.2% decline in July and a 0.4% decrease in June. Year-to-year, metal window prices are up 0.5%.
Metal Doors and Frames – The metal doors and frames PPI rose by 0.5% in August. Metal door and frame prices remained unchanged in July. Year-to-year, prices for metal doors and frames are up 1.6%.
Builders’ Hardware – The prices of builders’ hardware, which includes window hardware, remained flat in August. This is the fourth consecutive month that the sector’s PPI remained unchanged. Year-to-year, prices for builders’ hardware are up 0.3%.