Each year, two days prior to the release of January data, the Bureau of Labor Statistics (BLS) publishes new seasonal factors for the Producer Price Index (PPI) that reflect price movement patterns for the just-completed calendar year. The new factors are applied to stage-of-processing and commodity groupings for the previous 5-year period. It was recently discovered that an error in this annual process occurred in 2004 and affected the seasonally adjusted monthly index values for 6 stage-of-processing series for 1999. The 6 series, first posted in March 2004, remained incorrect in the Labstat database through May 24, 2005. On that date, corrected values were posted and marked with an "r" flag. The affected indexes are listed below.
|Series ID number||Index title|
|WPSSOP3400||Finished goods, excluding foods|
|WPSSOP3500||Finished goods less foods and energy|
|WPSSOP3520||Finished goods less energy|
Seasonally unadjusted index series were not affected by this processing error. In addition, the seasonal factor update in 2005, which revised the seasonally adjusted series for 2000 through 2004, was executed correctly. BLS regrets any inconvenience this error may have caused data users. Further information is available from the Section of Index Analysis at (202) 691-7705.
Last Modified Date: May 24, 2005