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
Architects | Jun 14, 2019
Making public facilities more public
Municipal facilities must strike a delicate balance between openness and security.
Architects | Jun 4, 2019
Big design, small budget: These are the best small projects for 2019
Bjarke Ingels Group's prototype mountainside cabin and Fieldwork's forest pedestrian bridges are among 12 projects honored by AIA's Small Project Practitioners group.
Architects | Apr 26, 2019
Designing for the final frontier: Space architecture
Colonizing Mars is an exciting possibility in the not-too-distant future, and architects will play a vital role in making it a reality, despite the plethora of challenges that need to be overcome.
Architects | Apr 12, 2019
Bipartisan 'Invest in America Act' gains industry support
The bill would attract as much as $125 billion investment for buildings, infrastructure.
Office Buildings | Apr 8, 2019
It’s time for office amenities to get to work
Amenities with the greatest impact on effectiveness and experience are those that directly support the work needs of individual employees and their teams.
Industry Research | Apr 8, 2019
New research finds benefits to hiring architectural services based on qualifications
Government agencies gain by evaluating beyond price, according to a new Dodge survey of government officials.
Architects | Mar 17, 2019
HMC Architects sets up a ‘design lab’ to explore new ideas
The goal is for project team members to collaborate earlier to inspire innovation.
Architects | Mar 12, 2019
Thrown a curve: Fitting a restaurant into spherical dome was the design challenge for Willmott’s Ghost
The Seattle eatery nests inside the conservatories on Amazon’s massive campus.
Building Technology | Mar 8, 2019
What is your firm's innovation 'hit rate'?
As firms begin to adopt the practices and mindset of Silicon Valley tech and advanced manufacturing, it’s fair to ask: Are all of these innovation projects and initiatives working?