The latest produce price index from the U.S. Department of Labor showed that there was a 2% drop in construction input prices during the month of January, marking the six straight month prices failed to rise, the Associated Builders and Contractors reported.
Construction input prices were down 3.6% from the same time last year. Data from the Department of Labor also showed that there was a 2.1% fall from December to January, and a 4.6% decline on a yearly basis for nonresidential construction.
While the produce price index dipped in January, there were other material prices that rose last month and included the following:
- There were only three key construction inputs that did not expand in January.
- Prices for iron and steel dropped 0.6% in January and 6.7% from the same time last year.
- Plumbing fixture prices rose 0.8% in January and 3.9% year-over-year.
- Prices for prepared asphalt, tar roofing, and siding increased by 2.7% on a monthly basis and 4.2% yearly.
- Softwood lumber prices fell 1.5% on a monthly basis and are 0.6% lower than this time last year.
“The decline in oil and petroleum prices finally showed up in the PPI data,” said Associated Builders and Contractors Chief Economist Anirban Basu. “According to the Bureau of Labor Statistics, crude petroleum prices fell 30.6% for the month and 54.8% for the year, but other input categories also experienced downward pressure, include nonferrous wire and cable and softwood lumber.”
Related Stories
Building Materials | Jun 12, 2015
Construction materials prices up in May, down year-over-year
Prices for inputs to construction industries rose by 1.1% in May—the largest month-over-month increase in more than two years.
Fire and Life Safety | May 27, 2015
7 bold applications and innovations for fire and life safety
BD+C’s roundup features colorful sprinklers for offices, hotels, museums; a fire-rated curtain wall at a transit hub in Manhattan; a combination CO/smoke detector; and more.
BIM and Information Technology | May 27, 2015
4 projects honored with AIA TAP Innovation Awards for excellence in BIM and project delivery
Morphosis Architects' Emerson College building in Los Angeles and the University of Delaware’s ISE Lab are among the projects honored by AIA for their use of BIM/VDC tools.
Sponsored | Building Materials | May 19, 2015
The BYU Life Sciences Building draws inspiration from tectonic forms
Strong, lightweight ALPOLIC materials honor the rugged Wasatch Mountains while standing up to the forces that created them.
Contractors | Apr 29, 2015
Construction costs are expected to remain soft through fall of 2015
Labor and materials haven’t appreciated this year through April, according to market analyst IHS.
Wood | Apr 26, 2015
Building wood towers: How high is up for timber structures?
The recent push for larger and taller wood structures may seem like an architectural fad. But Building Teams around the world are starting to use more large-scale structural wood systems.
Sponsored | Building Team | Apr 24, 2015
New Products and Programs to Check Out at the 2015 AIA Convention
There is no bigger annual gathering of architects and design professionals in North America quite like the AIA National Convention.
Building Materials | Apr 15, 2015
Prices for construction materials see highest spike in two years
Results from the Bureau of Labor Statistics showed that prices for construction materials rose 0.8% in March, the largest monthly increase in more than two years.
Building Materials | Apr 14, 2015
French firm proposes sand and bacteria as building material in the Sahara
Deserts are already abundant with sand, so why not construct buildings out of it? This was the thought behind Flohara, a collection of shelters developed by Paris-based XTU Architects.
