Post Time:Feb 14,2025Classify:Industry NewsView:955
The new year ushered in higher costs for glass and glass product manufacturing. According to the latest United States Bureau of Labor Statistics Producer Price Index (PPI), the glass and glass product manufacturing index rose 1.1% in January. This followed a revised 0.1% drop in December and a 0.7% increase in November.
The year-to-year PPI for glass and glass product manufacturing remained elevated at 2.7% in January compared to January 2024. The PPI measures the prices of goods and services at the wholesale level in the U.S., from raw materials to finished products.
Overall, U.S. producer prices rose in January, reflected by the PPI’s 0.4% increase after a revised 0.5% jump in December. On a year-to-year basis, the PPI increased by 3.5% after increasing by 3.3% in December. The PPI update follows the consumer price report, which shows consumer prices increased by 0.5% in January, the most significant increase in over a year.