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
| Jul 24, 2014
SLATERPAULL Architects to merge with Hord Coplan Macht
The merger will create a full-service practice with offices in Baltimore, MD, Denver, CO and Alexandria, VA that offers integrated architecture, landscape architecture, interior design, planning and historic preservation services.
| Jul 24, 2014
MIT researchers explore how to make wood composite-like blocks of bamboo
The concept behind the research is to slice the stalk of bamboo grass into smaller pieces to bond together and form sturdy blocks, much like conventional wood composites.
| Jul 24, 2014
Glazing options in correctional and detention facilities
Like it or not, the number of incarcerated people in the U.S. continues to rise. With that, increased security in all aspects of these facilities continues to be a priority. This is where security glazing products that allow line of sight for supervisors to observe and still maintain secure separation can play a key role. SPONSORED CONTENT
| Jul 23, 2014
Holistic care model, regulatory changes make outpatient facilities a high priority [2014 Giants 300 Report]
With the Affordable Care Act still in its infancy, Building Teams are seeing reverberations in the investment decisions of healthcare providers, including new ideas about the types of buildings they are asked to create.
| Jul 23, 2014
Meet Acquario Ceará: The giant crustacean-shaped aquarium that's causing concerns
A new aquarium on Brazil's northeastern coast is designed, engineered, constructed and financed by U.S. firms and institutions.
| Jul 23, 2014
Top Healthcare Sector Construction Firms [2014 Giants 300 Report]
Turner, McCarthy, and Skanska USA top Building Design+Construction's 2014 ranking of the largest healthcare contractors and construction management firms in the U.S.
| Jul 23, 2014
Top Healthcare Sector Engineering Firms [2014 Giants 300 Report]
AECOM, Jacobs, and URS Corp. top Building Design+Construction's 2014 ranking of the largest healthcare engineering and engineering/architecture firms in the U.S.
| Jul 23, 2014
Top Healthcare Sector Architecture Firms [2014 Giants 300 Report]
HDR, Stantec, and HKS top Building Design+Construction's 2014 ranking of the largest healthcare architecture and architecture/engineering firms in the U.S.
| Jul 23, 2014
Tallest skyscraper in South Korea now open
The Northeast Asia Trade Tower stands at 308 meters and is the focal point of the Songdo International Business District, a new 310-hectare city built on reclaimed land.
| Jul 23, 2014
Architecture Billings Index up nearly a point in June
AIA reported the June ABI score was 53.5, up from a mark of 52.6 in May.