[Federal Register Volume 77, Number 248 (Thursday, December 27, 2012)]
[Notices]
[Pages 76303-76304]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-31075]


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DEPARTMENT OF LABOR

Bureau of Labor Statistics


Notice of Availability of Producer Price Index (PPI) Data Users 
Survey

AGENCY: Bureau of Labor Statistics, Labor.

ACTION: Notice of availability of survey.

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SUMMARY: The Bureau of Labor Statistics (BLS) will conduct a survey via 
the internet of Producer Price Index (PPI) data users. The survey is 
necessary to: Identify PPI data users, see how they use our data, and 
note areas of potential

[[Page 76304]]

improvement to better meet our customer's needs. BLS last conducted a 
survey of PPI data users in late 1976 through early 1977. Since that 
time, numerous new time series data have been introduced with the goal 
of fulfilling the needs of data users. This survey will help us 
determine if we are meeting those goals, highlight areas for 
improvement to existing data series, and identify areas for future 
expansion.

DATES: The Producer Price Index (PPI) user survey will be accessible 
until April 30, 2013.

ADDRESSES: Send comments to Joseph Kelley, Producer Price Index, Bureau 
of Labor Statistics, Room 3840, 2 Massachusetts Avenue NE., Washington, 
DC 20212 or by email to: [email protected].

FOR FURTHER INFORMATION CONTACT: Joseph Kelley, Producer Price Index, 
Bureau of Labor Statistics, telephone number 202-691-7722 (this is not 
a toll-free number), or by email to: [email protected].

SUPPLEMENTARY INFORMATION: The survey can be accessed at the following 
link: https://www.research.net/s/PPIUserSurveyFederalRegister or by 
going to the PPI homepage http://www.bls.gov/ppi/ and using the link 
under `Announcements'.

I. Background

    The Producer Price Index (PPI), one of the Nation's leading 
economic indicators, is used as a measure of price movements, as an 
indicator of inflationary trends, for inventory valuation, and as a 
measure of purchasing power of the dollar at the primary-market level. 
It also is used for market and economic research and as a basis for 
escalation in long-term contracts and purchase agreements.
    Producer Price Index data provide a description of the magnitude 
and composition of price change within the economy, and serve a wide 
range of governmental needs. This family of indexes are closely 
followed, monthly statistics that are viewed as sensitive indicators of 
the economic environment. Price data are vital in helping both the 
President and Congress set fiscal-spending targets. Producer prices are 
monitored by the Federal Reserve Board Open Market Committee to help 
decide monetary policy. Federal policy-makers at the Department of 
Treasury and the Council of Economic Advisors utilize these statistics 
to help form and evaluate monetary and fiscal measures and to help 
interpret the general business environment. In addition, it is common 
to find one or more PPIs, alone or in combination with other measures, 
used to escalate the delivered price of goods for government purchases.
    In addition to governmental uses, PPI data are regularly put to use 
by the private sector. Private industry uses PPI data for contract 
escalation. For one particular method of tax-related Last-In-First-Out 
(LIFO) inventory accounting, the Internal Revenue Service suggests that 
firms use PPI data for making calculations. Private businesses make 
extensive use of industrial-price data for planning and operations. 
Price trends are used to assess the condition of markets. Firms 
commonly compare the prices they pay for material inputs as well as 
prices they receive for products that they make and sell with changes 
in similar PPIs.
    Economic researchers and forecasters also put the PPI to regular 
use. PPIs are widely used to probe and measure the interaction of 
market forces. Some examples of research topics that require extensive 
price data include: The identification of varying price elasticities 
and the degree of cost pass-through in the economy, the identification 
of potential lead and lag structures among price changes, and the 
identification of prices which exert major impacts throughout market 
structures.

    Signed at Washington, DC, this 20th day of December 2012.
Eric P. Molina,
Acting Chief, Division of Management Systems, Bureau of Labor 
Statistics.
[FR Doc. 2012-31075 Filed 12-26-12; 8:45 am]
BILLING CODE 4510-24-P