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
Mixed-Use | Feb 13, 2015
First Look: Sacramento Planning Commission approves mixed-use tower by the new Kings arena
The project, named Downtown Plaza Tower, will have 16 stories and will include a public lobby, retail and office space, 250 hotel rooms, and residences at the top of the tower.
Architects | Feb 13, 2015
OMA commissioned to design newest New York High Line addition
Rem Koolhaas is the latest addition to the list of starchitects working on projects near the High Line elevated park.
Codes and Standards | Feb 12, 2015
ASHRAE, USGBC, IES consider biomass requirements in green building standard
The proposal would add biomass to approved renewables.
Codes and Standards | Feb 12, 2015
New Appraisal Institute form aids in analysis of green commercial building features
The Institute’s Commercial Green and Energy Efficient Addendum offers a communication tool that lenders can use as part of the scope of work.
Office Buildings | Feb 12, 2015
Is Houston headed for an office glut?
More than 13 million sf could be completed this year, adding to this metro’s double-digit vacancy woes.
Modular Building | Feb 12, 2015
New shipping container complex begins construction in Albuquerque
The Green Jeans Farmery already has a hydroponic farm component courtesy of owner and entrepreneur Roy Solomon.
Transit Facilities | Feb 12, 2015
Gensler proposes network of cycle highways in London’s unused underground
Unused tube lines would host pedestrian paths, cycle routes, cultural spaces, and retail outlets.
Healthcare Facilities | Feb 11, 2015
Primer: Using 'parallel estimating' to pinpoint costs on healthcare construction projects
As pressure increases to understand capital cost prior to the first spade touching dirt, more healthcare owners are turning to advanced estimating processes, like parallel estimating, to improve understanding of exposure, writes CBRE Healthcare's Andrew Sumner.
Transportation & Parking Facilities | Feb 11, 2015
11 of the nation’s best ‘Complete Streets’ policies of 2014
Austin, Texas, and Troy, N.Y., are among the cities with the strongest safe streets policies, according to a new report.
Sponsored | Roofing | Feb 11, 2015
New school blends with local architecture using Petersen metal roof
Perkins Eastman in Stamford, Conn., designed the school to emphasize and integrate the International Baccalaureate curriculum throughout.
