Construction Materials Prices Rise Only 0.3% in August
Construction materials prices rose only 0.3% in August and are up 1.4% year-over-year, according to the Sept. 13 Producer Price Index release by the U.S. Dept. of Labor. In addition, nonresidential construction materials increased 0.5% for the month and are 1.2% higher than one year ago.
“In a world characterized by additional looming warfare, fluctuating global currencies, rising U.S. interest rates and plunging gold prices, one would expect much more volatility in materials prices,” said Associated Builders and Contractors Chief Economist Anirban Basu. “Despite all of those shifting factors, construction materials prices remain remarkably stable, which is noteworthy given the price volatility experienced in 2004 and 2008.”