April 2011 Consumer and Producer Price Indices

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The seasonally adjusted Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in April on a seasonally adjusted basis. Over the last 12 months, the all items index increased 3.2 percent before seasonal adjustment.

The energy index posted another increase in April as the gasoline index continued to rise, the latter accounting for almost half of the seasonally adjusted all-items increase. The household energy index also rose, with all of its major components posting increases. The food index increased as well in April, though the 0.5 percent rise in the food at home index was the smallest increase this year.

The 12-month increases of major indexes continued climbing. The all items index rose 3.2 percent for the 12 months ending April 2011, the highest figure since October 2008. The energy index has now risen 19.0 percent over the last 12 months, with the gasoline index up 33.1 percent. The food index has risen 3.2 percent while the index for all items less food and energy has increased 1.3 percent; both figures represent increases over recent months.

The seasonally adjusted Producer Price Index for Finished Goods (PPI) rose 0.8 percent in April, seasonally adjusted. This advance followed increases of 0.7 percent in March and 1.6 percent in February. At the earlier stages of processing, prices received by manufacturers of intermediate goods climbed 1.3 percent in April, and the crude goods index rose 4.0 percent. On an unadjusted basis, prices for finished goods moved up 6.8 percent for the 12 months ended April 2011, the largest year-over-year gain since an 8.8-percent increase in September 2008.
 

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Details at different stages of processing include:

Finished goods -- About three quarters of the April advance in the finished goods index can be traced to a 2.5 percent jump in prices for finished energy goods. Also contributing to the rise in the finished goods index, prices for both finished goods other than foods and energy and for finished consumer foods moved up 0.3 percent in April.

Intermediate goods -- This index rose 1.3 percent in April, the ninth consecutive monthly advance. The broad-based April increase was led by prices for intermediate goods less foods and energy, which moved up 1.1 percent. The indexes for intermediate energy goods and for intermediate foods and feeds also contributed to the intermediate goods advance, rising 1.9 percent and 1.8 percent, respectively. For the 12 months ended April 2011, prices for intermediate goods climbed 9.4 percent, the largest increase since a 9.8 percent jump in October 2008.

Crude goods -- The crude-goods index increased 4.0 percent in April. For the three months ending in April, prices for crude materials moved up 7.0 percent following an 11.4 percent jump for the three months ending in January. Leading the broad-based monthly advance in April, the index for crude energy materials rose 4.8 percent. Prices for crude foodstuffs and feedstuffs and for crude nonfood materials less energy increased 4.0 percent and 2.6 percent, respectively.
 

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Price index changes for the forest products that we track were mixed in April. Lumber and wood products, and softwood lumber price indices fell; the price index for softwood logs, bolts and timber was unchanged. Year-over-year index changes were also mixed, with price levels either declining or else increasing at a slower pace.
 

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