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
| Oct 13, 2014
The mindful workplace: How employees can manage stress at the office
I have spent the last several months writing about healthy workplaces. My research lately has focused on stress—how we get stressed and ways to manage it through meditation and other mindful practices, writes HOK's Leigh Stringer.
| Oct 13, 2014
Debunking the 5 myths of health data and sustainable design
The path to more extensive use of health data in green building is blocked by certain myths that have to be debunked before such data can be successfully incorporated into the project delivery process.
Sponsored | | Oct 13, 2014
The problem with being a customer-centric organization
Kristof De Wulf, CEO of InSites Consulting, argues that the effects of customer-centricity typically don’t endure, leading only to temporary improvements in company performance. SPONSORED CONTENT
Sponsored | | Oct 13, 2014
CLT, glulam deliver strength, low profile, and aesthetics for B.C. office building
When he set out to design his company’s new headquarters building on Lakeshore Road in scenic Kelowna, B.C., Tim McLennan of Faction Projects knew quickly that cross-laminated timber was an ideal material.
Sponsored | | Oct 13, 2014
Think you can recognize a metal building from the outside?
It’s getting more and more difficult to spot a metal building these days. What looks like brick, stucco or wood on the outside could actually be a metal building in disguise. SPONSORED CONTENT
Sponsored | | Oct 13, 2014
Liberty Utilities protects installers with Viega MegaPress
Liberty Utilities of New Hampshire wanted a way to keep its installers safe without compromising the quality of their installations, which is why the utility provider decided to start installing Viega MegaPress. SPONSORED CONTENT
| Oct 13, 2014
Department of Agriculture launches Tall Wood Building Competition
The competition invites U.S. developers, institutions, organizations, and design teams willing to undertake an alternative solution approach to designing and building taller wood structures to submit entries for a prize of $2 million.
| Oct 12, 2014
AIA 2030 commitment: Five years on, are we any closer to net-zero?
This year marks the fifth anniversary of the American Institute of Architects’ effort to have architecture firms voluntarily pledge net-zero energy design for all their buildings by 2030.
| Oct 10, 2014
A new memorial by Zaha Hadid in Cambodia departs from the expected
The project sees a departure from Hadid’s well-known use of concrete, fiberglass, and resin. Instead, the primary material will be timber, curved and symmetrical like the Angkor Wat and other Cambodian landmarks.
| Oct 9, 2014
Regulations, demand will accelerate revenue from zero energy buildings, according to study
A new study by Navigant Research projects that public- and private-sector efforts to lower the carbon footprint of new and renovated commercial and residential structures will boost the annual revenue generated by commercial and residential zero energy buildings over the next 20 years by 122.5%, to $1.4 trillion.
