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
| Sep 13, 2010
Second Time Around
A Building Team preserves the historic facade of a Broadway theater en route to creating the first green playhouse on the Great White Way.
| Sep 13, 2010
Triple-LEED for Engineering Firm's HQ
With more than 250 LEED projects in the works, Enermodal Engineering is Canada's most prolific green building consulting firm. In 2007, with the firm outgrowing its home office in Kitchener, Ont., the decision was made go all out with a new green building. The goal: triple Platinum for New Construction, Commercial Interiors, and Existing Buildings: O&M.
| Aug 11, 2010
New data shows low construction prices may soon be coming to an end
New federal data released recently shows sharp increases in the prices of key construction materials like diesel, copper and brass mill shapes likely foreshadow future increases in construction costs, the Associated General Contractors of America said. The new November producer price index (PPI) report from the Bureau of Labor Statistics provide the strongest indication yet that construction prices are heading up, the association noted.
| Aug 11, 2010
AIA Course: Building with concrete – Design and construction techniques
Concrete maintains a special reputation for strength, durability, flexibility, and sustainability. These associations and a host of other factors have made it one of the most widely used building materials globally in just one century. Take this free AIA/CES course from Building Design+Construction and earn 1.0 AIA learning unit.
| Aug 11, 2010
Nurturing the Community
The best seat in the house at the new Seahawks Stadium in Seattle isn't on the 50-yard line. It's in the southeast corner, at the very top of the upper bowl. "From there you have a corner-to-corner view of the field and an inspiring grasp of the surrounding city," says Kelly Kerns, project leader with architect/engineer Ellerbe Becket, Kansas City, Mo.