Prices for inputs to construction industries expanded 0.8% in March, the largest monthly increase in more than two years, according to the April 14 producer price index release by the Bureau of Labor Statistics. Prices have now expanded for two consecutive months after declining during the previous six; however, input prices are down 3.6% on a year-over-year basis.
March marks the fourth consecutive month that year-over-year input prices have declined, the longest such streak since 2009. Crude petroleum prices fell 4% in March and have fallen in eight of the previous nine months.