Overall, construction materials prices fell 0.5 percent in November and are up only 1.1 percent year over year, according to the Department of Labor’s Dec. 13 Producer Price Index. Nonresidential construction materials are down 0.6 percent for the month and are 0.7 percent lower than the same time last year.
“November represented another month of remarkable stability for construction input prices,” said Associated Builders and Contractors (ABC) Chief Economist Anirban Basu. “Although many investors predicted significant inflation this year due to expansionary monetary policies in much of the developed world, there continues to be a lack of significant inflationary pressures both globally and nationally.”
Overall, the nation’s wholesale goods prices expanded 0.2 percent in November, but are down 0.9 percent year over year.
“Next year is unlikely to offer as much stability as 2013,” Basu said. “Global economic growth is set to accelerate and the apparent budget deal in Congress should produce greater certainty among businesses, helping improve an already benign national economic forecast. Tension in the Middle East also continues to be a consideration. Together, these factors suggest materials price increases may be at least slightly more rapid in 2014.”
THE FOLLOWING MATERIALS PRICES INCREASED IN NOVEMBER:
- Fabricated structural metal products were up 0.1 percent for the month and 0.3 percent year over year.
- Softwood lumber prices increased 2.6 percent on a monthly basis and are up 12.8 percent year over year.
- Natural gas prices were up 1.9 percent for the month and 3.3 percent on an annual basis.
- Nonferrous wire and cable prices rose 0.2 percent on a monthly basis and are down 3 percent year over year.
- Iron and steel prices were up 1.8 percent for the month and are down 0.1 percent compared to the same time last year.
- Prices for plumbing fixtures and fittings inched up 0.1 percent in November and are up 1.6 percent year over year.
- Steel mill products prices increased 0.8 percent in November but are down 0.6 percent compared to the same time last year.
THE FOLLOWING CONSTRUCTION INPUTS EXPERIENCED PRICE DECREASES IN NOVEMBER:
- Prepared asphalt, tar roofing and siding prices were down 3.8 percent for the month and 0.3 percent year over year.
- Crude petroleum prices fell 10.3 percent on a monthly basis but are up 0.9 percent year over year.
- Crude energy prices decreased 5.7 percent in November but are up 0.6 percent compared to the same time last year.
- Concrete products prices were flat in November and are up 2.8 percent year over year.
Related Stories
Coronavirus | Jan 20, 2022
Advances and challenges in improving indoor air quality in commercial buildings
Michael Dreidger, CEO of IAQ tech startup Airsset speaks with BD+C's John Caulfield about how building owners and property managers can improve their buildings' air quality.
Architects | Jan 17, 2022
OSPORTS adds Robert Hayes to lead operational and business development efforts
Hayes will guide the OSPORTS organization in its mission to offer a unique perspective to designing world-class facilities.
Architects | Jan 13, 2022
Hollywood is now the Stream Factory
Insatiable demand for original content, and its availability on a growing number of streaming platforms, have created shortages — and opportunities — for new sound stages.
Architects | Jan 13, 2022
Robert Eisenstat and Paul Mankins receive 2022 AIA Award for Excellence in Public Architecture
The award recognizes architects, public officials, or other individuals who design distinguished public facilities and advocate for design excellence.
3D Printing | Jan 12, 2022
Using 3D-printed molds to create unitized window forms
COOKFOX designer Pam Campbell and Gate Precast's Mo Wright discuss the use of 3D-printed molds from Oak Ridge National Lab to create unitized window panels for One South First, a residential-commercial high-rise in Brooklyn, N.Y.
Engineers | Jan 12, 2022
Private equity: An increasingly attractive alternative for AEC firm sellers
Private equity firms active in the AEC sector work quietly in the background to partner with management, hold for longer periods, and build a win-win for investors and the firm. At a minimum, AEC firms contemplating ownership transition should consider private equity as a viable option. Here is why.
Sponsored | BD+C University Course | Jan 12, 2022
Total steel project performance
This instructor-led video course discusses actual project scenarios where collaborative steel joist and deck design have reduced total-project costs. In an era when incomplete structural drawings are a growing concern for our industry, the course reveals hidden costs and risks that can be avoided.
University Buildings | Jan 11, 2022
Designing for health sciences education: supporting student well-being
While student and faculty health and well-being should be a top priority in all spaces within educational facilities, this article will highlight some key considerations.
Green | Jan 10, 2022
The future of regenerative building is performance-based
Why measuring performance results is so critical, but also easier said than done.
Senior Living Design | Jan 5, 2022
Top Senior Living Facility Design and Construction Firms
Perkins Eastman, Kimley-Horn, WSP USA, Whiting-Turner Contracting Co., and Ryan Companies US top BD+C's rankings of the nation's largest senior living sector architecture, engineering, and construction firms, as reported in the 2021 Giants 400 Report.
