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 18, 2012
Alcoa appoints Hunter Architectural Manager
Hunter to operate with the goal of driving specification, new product adoption and overall demand for the Alcoa BCS North America product range.
| Jul 17, 2012
AIA and Architecture for Humanity select Disaster Response Grant recipients
Awards help each group implement their locally driven preparedness project in the second half of the year.
| Jul 17, 2012
KM/Plaza changes name to Plaza Construction
Lands new projects including the Perry South Beach Hotel and Dadeland Mall Kendall Wing Expansion.
| Jul 17, 2012
Dr. Phillips Charities Headquarters Building receives LEED Silver
The building incorporates sustainable design features, environmentally-friendly building products, energy efficient systems, and environmentally sensitive construction practices.
| Jul 16, 2012
BD+C Under 40 Leadership Summit scheduled
Attendee registration for U40 Summit II now open.
| Jul 16, 2012
Construction spending at 2 ½ year peak
Construction economist Ken Simonson says that four private nonresidential categories each posted 12-month spending increases of more than 25%: power and energy construction, 35%; hotels, 29%; educational and manufacturing, 27% apiece.
| Jul 16, 2012
Chen named design director at Heery
Chen comes to Heery from his own firm, Mark Chen Architect, a design and planning consulting firm, based in New York City, whose recent work includes large-scale planning studies for mixed-use projects.
| Jul 16, 2012
Reed Construction hires new project manager
Fread is a LEED AP and received his degree from Purdue University.
| Jul 16, 2012
Business school goes for maximum vision, transparency, and safety with fire rated glass
Architects were able to create a 2-hour exit enclosure/stairwell that provided vision and maximum fire safety using fire rated glazing that seamlessly matched the look of other non-rated glazing systems.
| Jul 12, 2012
New firm RSK Avanti Partners offers market development services
Full-service consulting firm is focused on working with product manufacturers, designers, specifies and contractors in the building construction market.
