Material prices experience overall drop

Construction material prices dropped sharply in October, falling 2.8 percent compared to the previous month. According to the U.S. Department of Labor’s producer price index report, the prices are still approximately 10 percent higher than October 2007.

While still at significantly higher levels than last year, prices fell for softwood lumber, fabricated structural metal products and plumbing fixtures and fittings. Prices increased for fabricated ferrous wire products, asphalt felts and coatings. Crude energy prices dropped nearly 25 percent in October.