17 August 2011 14:28 [Source: ICIS news]
WASHINGTON (ICIS)--US producer prices for plastic resins rose by 2.1% in July from June, the Department of Labor said on Wednesday, while wholesale prices for organic chemicals fell by 1.6%.
Within the big picture for finished goods there was a second consecutive decline in prices for energy products, down by 0.6%, including a 2.8% drop in wholesale prices for gasoline.
Producer prices – also known as wholesale prices – for consumer goods rose by 0.6% in July from June, suggesting that consumers may soon see prices edging up at the retail level.
The 1.6% decline in wholesale prices for organic chemicals marked a departure from previous months – producer prices for these commodities rose by 2.4% in June and 4.4% in May.
In plastic resins, wholesale prices continued their recent pattern of monthly fluctuation. July’s 2.1% increase in producer prices for plastic resins followed a 0.8% decline in June and May’s strong 4.6% advance.
While the department’s bureau of labor statistics compiles monthly price changes in hundreds of commodities and products, it does not provide any analysis of those shifts.
Paul Hodges studies key influencers shaping the chemical industry in Chemicals and the Economy
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