Construction Materials Prices Expand Again in February
Construction materials prices expanded 0.7% in February and are up 0.6% over the past year, according to the March 14 producer price index release by the U.S. Dept. of Labor. More specifically, nonresidential construction materials prices are up 0.7% for the month and are 0.4% higher than the same time one year ago.
“February marks the second consecutive month in which construction materials prices expanded briskly,” said Associated Builders and Contractors Chief Economist Anirban Basu. “Construction materials prices experienced a remarkable lack of volatility during the last three quarters of 2013; however, that trend appears to be firmly behind us.”