US wholesale prices for chemicals and plastics fall in August

14 September 2011 14:27  [Source: ICIS news]

WASHINGTON (ICIS)--US producer prices for chemicals and plastic resins fell in August from July, the Department of Labor said on Wednesday, as overall prices for goods at the wholesale level were unchanged.

In its monthly report, the department’s Bureau of Labor Statistics said that wholesale prices for basic organic chemicals fell by 1.2% in August and followed a 1.6% drop in July.

That two-month decline in producer prices for chemicals more than offset the 2.4% advance reported for June.

In plastic resins and related materials, wholesale prices were off by 2.2% in August, wiping out the 2.1% producer prices gain seen in July.

In June, plastic resins saw a 0.8% fall in prices at the wholesale or producer level.

Overall, the bureau said that its producer price index (PPI) was flat in August, with a 1.1% increase in wholesale costs for consumer foods offset by a near-equal decline in energy goods.

Much of the decline in energy products prices was attributed to a 5.9% drop in diesel fuels.

While the bureau 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

By: Joe Kamalick
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