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
Building Team Awards | Jun 1, 2016
Central utility power plant takes center stage at UC San Diego Jacobs Medical Center
An undulating roof, floor-to-ceiling glass, and façade scheme give visual appeal to a plant that serves the 10-story medical center.
Architects | May 31, 2016
JLG Architects acquires Minneapolis-based Studio Five Architects
Led by Linda McCracken-Hunt, SFA is one of Minnesota’s oldest woman-owned architecture firms.
Building Team Awards | May 31, 2016
Gonzaga's new student center is a bustling social hub
Retail mall features, comfortable furniture, and floor-to-ceiling glass add vibrancy to the new John J. Hemmingson Center.
Building Team Awards | May 27, 2016
Big police academy trains thousands of New York's finest
The Police Training Academy in Queens, N.Y., consists of a 480,000-sf academic/administration building and a 240,000-sf physical training facility, linked by an aerial pedestrian bridge.
Building Team Awards | May 26, 2016
Cimpress office complex built during historically brutal Massachusetts winter
Lean construction techniques were used to build 275 Wyman Street during a winter that brought more than 100 inches of snow to suburban Boston.
Building Team Awards | May 25, 2016
New health center campus provides affordable care for thousands of Northern Californians
The 38,000-sf, two-level John & Susan Sobrato Campus in Palo Alto is expected to serve 25,000 patients a year by the end of the decade.
Architects | May 24, 2016
Lissoni Architettura’s NYC Aquatrium takes first place in New York City Waterfront Design competition
NYC Aquatrium was selected from among 178 proposals from 40 countries as the winner of Arch Out Loud’s NYC Aquarium & Public Waterfront design competition
Building Team Awards | May 24, 2016
Los Angeles bus depot squeezes the most from a tight site
The Building Team for the MTA Division 13 Bus Operations and Maintenance Facility fit 12 acres’ worth of programming in a multi-level structure on a 4.8-acre site.
Building Team Awards | May 23, 2016
'Greenest ballpark' proves a winner for St. Paul Saints
Solar arrays, a public art courtyard, and a picnic-friendly “park within a park" make the 7,210-seat CHS Field the first ballpark to meet Minnesota sustainable building standards.
Architects | May 20, 2016
NCARB survey indicates continued growth of U.S. architects
The number of U.S. architects surpassed 110,000 in 2015, a 2% increase from the previous year.