Construction Materials Prices Fall Slightly in October
Construction materials prices fell 0.2% in October and are down 0.3% year over year, according to the Nov. 21 Producer Price Index released by the U.S. Dept. of Labor. Nonresidential construction materials are down 0.5% for the month and are unchanged from the same time one year ago.
“We continue to observe a lack of significant inflationary pressures both globally and nationally,” said Associated Builders and Contractors Chief Economist Anirban Basu. “Despite ongoing expressions of concern regarding inflation due to stimulus measures being conducted by the U.S. Federal Reserve and other major central banks around the world, the data continue to reflect remarkable stability in construction materials prices.”