GLASS PRODUCTS AND MANUFACTURING PRICES CONTINUE UPWARD TREND

From the National Glass Association on Wed, February 26, 2024

The Producer Price Index (PPI) for glass and glass product manufacturing increased for the third consecutive month in January. PPI captures average price shifts before they reach consumers. It serves as a potential signal for consumers’ prices.

According to a U.S. Bureau of Labor Statistics (BLS) monthly report, the PPI for glass and glass product manufacturing rose 0.8% in January, following a 0.3% increase in December and a 0.1% increase in November. Year-to-year, the PPI for the sector is up 2.8%.

The overall PPI for final demand jumped 0.3% in January. This follows a 0.1% decline in December and a 0.1% increase in November. January’s increase was the largest in five months.

Christopher Rupkey, a chief economist at FWDBONDS in New York, told Reuters, “January is a problem month for inflation. There could be seasonal adjustment problems as prices increase the most each year in the dead of winter.”

Glass and Glazing Material Prices

Flat Glass – The PPI for flat glass dropped by 0.2% in January. This ended several consecutive months of increased readings. Year-to-year, flat glass prices remain up 2.4%. Specialty glass prices remained flat in January. The year-to-year PPI for specialty glass was up 4.6%.

Flat Glass Manufacturing – January’s PPI for flat glass manufacturing decreased by 0.8%. This followed four straight months of elevated prices. The year-to-year PPI for flat glass manufacturing remained 3.3% lower than this time last year.

Fabricated Structural Metal Products – Fabricated structural metal products prices remained elevated in January. The PPI for the sector was up 0.5%. This was a slight decrease from December’s reading of 1.1%. Year-to-year prices for fabricated structural metal products were up 2.4%. Fabricated structural metal products include metal linings, culverts, casings, bar joists and plates.

Ornamental and Architectural Metalwork – The PPI for ornamental and architectural metalwork rose by 0.4% in January. The sector has not seen a decrease in months. The year-to-year PPI for ornamental and architectural metalwork was up 1.1%. Ornamental architectural metals are designed for aesthetic purposes when placed on high-end buildings.

Metal Windows – Metal window prices remained flat in January, continuing a run of steady or declining prices throughout the past six months. Year-to-year, metal window prices were down 0.5%. Metal windows include window frames comprised of aluminum or steel.

Metal Doors and Frames – The PPI metal doors and frames stayed steady in January. The last price increase for metal door and frame products was in September 2023. Year-to-year prices for metal doors and frames was up 2.1%.

Builders’ Hardware – The prices of builders’ hardware, which includes window hardware, dropped by 1.2% in January. The PPI for builders’ hardware went relatively unscathed throughout 2023. Year-to-year prices for the products were down 2.6% compared to January 2023.