Prices for inputs to construction materials expanded 1.3% in April and are 6.4% higher than at the same time one year ago, Associated Builders & Contractors (ABC) reports today in its analysis of the federal Bureau of Labor Statistics' just-issued Producer Price Index.
"This represents the largest month-over-month increase in almost three years and the largest year-over-year increase since October 2011," ABC said.
Among those gains, prices for iron and steel rose 3.4% in one month and now are up 10.8% over the past 12 months. And Asphalt, tar roofing and siding products jumped 7.9% in April and are up 6.2% since April 2017.
On the other hand, softwood lumber prices declined 1.9% in April from March, ABC said, but they still are up 9.9% for the past 12 months.Read More