Materials
Materials Prices Rise in February, Iron and Steel See Spikes
Prices rose 0.6% in February.
Courtesy of U.S. Bureau of Labor Statistics
Construction materials prices rose 0.6% in February compared to the previous month, according to the U.S. Bureau of Labor Statistics’ Producer Price Index released March 13. Since February 2024, prices have increased 0.3%.
In the non-residential sector, monthly prices increased 0.6%. “Nonresidential input prices increased at a rapid pace in February and have risen at a far-too-hot 9.0% annualized rate through the first two months of 2025,” Anirban Basu, chief economist at Associated Builders and Contractors, said in a press release. “Iron and steel prices rose at a particularly fast rate in February, a result of tariffs providing domestic producers with increased pricing power.”
Iron and steel prices rose 3.9% from January to February, while yearly prices were down 13%. Overall, non-residential material prices declined 0.1% since February 2024.
“Despite the sizable increase over the past two months, non-residential input prices are still down on a year-over-year basis,” said Basu. However, he warned, “that will likely change in the coming months as tariffs continue to put upward pressure on prices.”
Looking for quick answers on construction and engineering topics?
Try Ask ENR, our new smart AI search tool.
Ask ENR →
