Another big drop in consumer durables prices

May 26, 2004

Durable commodities prices paid by consumers decreased 4.3 percent in 2003, the largest calendar-year decrease since 1938. This followed a decline of 3.3 percent in 2002.

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Durables include items such as vehicles, furniture and bedding, and computers. New vehicle prices decreased 1.8 percent last year.

Furniture and bedding prices were down 1.6 percent in 2003. Prices for personal computers and peripheral equipment dropped by 17.8 percent.

The nondurables index rose 2.4 percent last year, following a 3.1-percent increase in 2002. The aggregate commodities index was up 0.5 percent in 2003, after rising 1.2 percent in the previous year.

These data are from the BLS Consumer Price Index program. Annual percent changes are December-to-December changes. For additional information on consumer price changes in 2003, see "Consumer prices during 2003," by Todd Wilson, Monthly Labor Review, April 2004.