WASHINGTON-Wholesale tire prices for radial passenger and truck/bus tires rose overall in May, reversing a downward trend that has left prices well below year-ago figures. The latest U.S. Department of Labor statistics show wholesale prices for passenger tires rose 1.5 percent, compared with April's level, although the gain still left prices for these tires 3.5 percent lower than May 1995.
In the all-season passenger tire category, prices did not fare as well, falling 0.6 percent in May, leaving them 3.8 percent below 12 months ago.
Truck and bus tires showed a modest gain of 0.2 percent for the month, but were down 2.8 percent from a year ago.
Prices of light highway truck radials surged ahead 3.2 percent in May, reversing a 3.1 percent decline that occurred in April.
Industrial, utility and garden tractor tire prices showed the steepest monthly decline at 8.5 percent.