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
| May 30, 2012
Hill International to manage construction of Al Risafa Stadium in Iraq
The three-year contract has an estimated value to Hill of approximately $3.3 million.
| May 29, 2012
Torrance Memorial Medical Center’s pediatric burn patients create their version of new Patient Tower using Legos
McCarthy workers joined the patients, donning construction gear and hard hats, to help with their building efforts.
| May 29, 2012
Reconstruction Awards Entry Information
Download a PDF of the Entry Information at the bottom of this page.
| May 29, 2012
Legrand achieves over 20% energy-intensity reduction in Presidential Challenge
West Hartford headquarters announced as Better Buildings, Better Plants “Showcase” site.
| May 29, 2012
Thornton Tomasetti/Fore Solutions provides consulting for Phase I of Acadia Gateway Center
Project receives LEED Gold certification.
| May 24, 2012
2012 Reconstruction Awards Entry Form
Download a PDF of the Entry Form at the bottom of this page.
| May 24, 2012
Gilbane’s Spring 2012 economic report identifies multiple positive economic and market factors
Anticipating increasing escalation in owner costs through 2014.
| May 24, 2012
Construction backlog declines 5.4% in the first quarter of 2012?
The nation’s nonresidential construction activity will remain soft during the summer months, with flat to declining nonresidential construction spending.
| May 23, 2012
MBI Modular Construction Campus Launched on BDCUniversity.com
White Papers, Case Studies, Industry Annual Reports, published articles and more are offered.
| May 23, 2012
McRitchie joins McCarthy Building as VP, commercial services in southern California
McRitchie brings more than 18 years of experience in the California construction marketplace.
