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
| Apr 11, 2011
Wind turbines to generate power for new UNT football stadium
The University of North Texas has received a $2 million grant from the State Energy Conservation Office to install three wind turbines that will feed the electrical grid and provide power to UNT’s new football stadium.
| Apr 8, 2011
SHW Group appoints Marjorie K. Simmons as CEO
Chairman of the Board Marjorie K. Simmons assumes CEO position, making SHW Group the only firm in the AIA Large Firm Roundtable to appoint a woman to this leadership position
| Apr 5, 2011
Zaha Hadid’s civic center design divides California city
Architect Zaha Hadid is in high demand these days, designing projects in Hong Kong, Milan, and Seoul, not to mention the London Aquatics Center, the swimming arena for the 2012 Olympics. But one of the firm’s smaller clients, the city of Elk Grove, Calif., recently conjured far different kinds of aquatic life when members of the City Council and the public chose words like “squid,” “octopus,” and “starfish” to describe the latest renderings for a proposed civic center.
| Apr 5, 2011
Are architects falling behind on BIM?
A study by the National Building Specification arm of RIBA Enterprises showed that 43% of architects and others in the industry had still not heard of BIM, let alone started using it. It also found that of the 13% of respondents who were using BIM only a third thought they would be using it for most of their projects in a year’s time.
| Apr 5, 2011
Top 10 Buildings: Women in Architecture
Making selections of top buildings this week led to a surprising discovery about the representation of women in architecture, writes Tom Mallory, COO and co-founder, OpenBuildings.com. He discovered that finding female-created architecture, when excluding husband/wife teams, is extremely difficult and often the only work he came across was akin to interior design.
