Costs rise moderately at end of 1998

The Plant Engineering Cost Index (PECI) moved up a moderate 0.2% during November, as continued declines in some materials prices were more than offset by increases in most labor components and by increases in a larger-than-usual number of materials categories. Labor costs had eased unexpectedly the month before, but the still-tight labor market pushed average hourly earnings higher again in the latest month. The overall Producer Price Index (PPI) fell 0.2% between October and November.

Do you have experience and expertise with the topics mentioned in this content? You should consider contributing to our CFE Media editorial team and getting the recognition you and your company deserve. Click here to start this process.