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 | Feb 15, 2018
AIASF Equity by Design to launch 2018 Equity in Architecture Survey
AIA San Francisco (AIASF) and the Equity by Design Committee, launched the third national Equity in Architecture Survey on February 12, 2018. Building upon the survey conducted in 2016, the third survey will further advance the national movement for equitable practice in the profession.
Urban Planning | Feb 14, 2018
6 urban design trends to watch in 2018
2017 saw the continuation of the evolution of expectations on the part of consumers, developers, office workers, and cities.
Office Buildings | Feb 13, 2018
Office market vacancy rate at 10-year low
Cautious development and healthy absorption across major markets contributed to the decline in vacancy, according to a new Transwestern report.
Architects | Feb 12, 2018
AIA selects seven individuals to receive the 2018 Associates Award
The recipients will be honored at the AIA Conference on Architecture 2018 in New York City.
Architects | Feb 9, 2018
AIA's 2018 Young Architects Award honors 18 recipients
The Young Architects Award recipients will be honored at the AIA Conference on Architecture 2018 in New York City.
Architects | Feb 8, 2018
Three ways cities could evolve 2018
Cities change constantly, but given the numerous disruptive factors spanning technology, policy, climate and more that will impact 2018 – it could prove to be a year of dynamic change for our urban fabric.
Architects | Feb 7, 2018
8 inefficiencies in the architecture + design industry (and possible solutions)
Matthew Rosenberg has identified 8 major inefficiencies in the architecture and design industry, as well as a solution for each of them.
Architects | Feb 5, 2018
Little names new Corporate President and COO
International architecture and design firm Little has appointed Carolyn Rickard-Brideau as its new Corporate President, and Charles Todd as its Chief Operating Officer.
Architects | Feb 1, 2018
How to generate architecture leads
One of the first steps to increasing leads for your design firm is to acknowledge that all leads are not equal, writes Hinge’s Karl Feldman.
Healthcare Facilities | Feb 1, 2018
Early supplier engagement provides exceptional project outcomes
Efficient supply chains enable companies to be more competitive in the marketplace.