By Associated Builders and Contractors
Construction input prices increased 2.5 percent in January 2021 compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices rose 2.1 percent for the month.
Construction input prices rose 4.8 percent from a year ago. Nonresidential construction input prices experienced a 4.2 percent increase over that span. Softwood lumber prices are up 73 percent on a year-over-year basis and iron and steel prices are up 15.6 percent. Natural gas prices have climbed 30 percent over the past year, while crude petroleum prices have declined 10.5 percent. (Source)