Construction materials prices expanded 0.5% in March and are up 1.1% from March of last year, according to the U.S. Dept. of Labor’s April 11 producer price index release. Nonresidential construction materials prices are up 0.4% for the month and are 1% higher than the same time one year ago.
“Despite the increase in materials prices, this report does not signal a period of much higher inflation,” said Associated Builders and Contractors Chief Economist Anirban Basu. “While it is true that there were significant increases in overall monthly inflation for both the broader economy and for construction, only a handful of categories were actually associated with a meaningful uptick in prices."