Construction materials prices dip 0.4 percent in October
| November 19, 2012 |
National construction materials prices fell 0.4 percent in October, according to the U.S. Labor Department’s producer price index (PPI). This was the first time in three months these prices have decreased.
Materials prices are 2 percent higher year-over-year. Nonresidential construction materials prices decreased 0.5 percent for October, but were 1.8 percent higher than one year ago.
Softwood lumber prices decreased 2.7 percent for October, but are up 6.7 percent year-over-year. Prices for fabricated structural metal products were unchanged for October and have increased 0.6 percent year-over-year.Several construction materials increased in price for the month.
Plumbing fixtures and fitting prices increased 0.4 percent for October and are up 1.8 percent year-over-year. Prices for concrete products increased 0.2 percent for October and increased 2.6 percent year-over-year.
Crude energy materials prices increased 1.3 percent in October, primarily due to a 9.5-percent gain in natural gas prices. Crude energy materials prices decreased 4.8 percent year-over-year.
Overall, the nation’s wholesale goods prices slipped 0.2 percent in October but increased 2.3 percent year-over-year.
To view a full report from Associated Builders and Contractors on the Producer Price Index for October, click here.