18 January 2012 14:33 [Source: ICIS news]
WASHINGTON (ICIS)--US wholesale prices for organic chemicals and plastic resins fell in December by 4% or more compared with November, the Commerce Department said on Wednesday, part of a narrow 0.1% decline in the overall producer price index for last month.
In its monthly report on pricing at the producer level – also known as wholesale prices – the department said that the thin 0.1% month-on-month decline in its producer price index (PPI) for December offset in part the 0.3% gain seen in November.
The December drop was attributed to a 0.8% decline in wholesale prices for both finished energy goods and consumer foods.
The decline in producer prices for energy products was led by a sharp 2.3% fall in gasolines.
Lower prices for residential natural gas and diesel fuel also contributed to the decline in wholesale fuel prices, the department said.
With the more volatile foods and fuels products backed out of the overall figures, the department said that the so-called core index for wholesale prices rose by 0.3% in December from November.
For basic organic chemicals, producer prices fell by 4% month on month in December, the report said, and followed declines of 4.1% in November and 2.5% in October.
In plastic resins and materials, wholesale prices fell by 4.5% last month, wiping out the 2% price advance seen in November. Prices at the producer level for plastic resins had seen a 3.9% drop in October.
The department tracks monthly price changes for hundreds of commodities and products, but it does not offer analysis on those pricing shifts.
Paul Hodges studies key influencers shaping the chemical industry in Chemicals and the Economy
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