By Associated Builders and Contractors
Construction input prices rose 2.1 percent in February 2021, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices also increased 2.1 percent for the month.
Construction input prices are up 7.6 percent from February 2020, and nonresidential construction input prices have expanded 7.1 percent during that span. Softwood lumber and natural gas have experienced the largest year-over-year increases, rising 79.7 percent and 76.2 percent, respectively. Prices in the iron and steel category increased 22.0 percent compared to the same time last year, and steel mill product prices are up 20.0 percent. (Source)