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
| Mar 30, 2012
New windows and doors revitalize older buildings
With their improved aesthetics, energy efficiency, and durability, replacement windows and doors can add significant value to a renovation project.
| Mar 29, 2012
Roller shade operating system wins IF Product Design Award
Design experts in the iF jury recognized the engineering invested in the RB 500 Roller Shade, including a metal clutch with a patented construction, a durable zamac housing with polished finish, and a chain drive unit that excels in maximum operating comfort.
| Mar 29, 2012
Construction completed on Las Vegas’ newest performing arts center
The Smith Center will be the first major multi-purpose performance center in the U.S. to earn Silver LEED certification.
| Mar 28, 2012
Meridian Design Build Begins work on 38 acre redevelopment project
The project includes construction of a new 150,585-sf cross dock facility that will include full service truck maintenance and repair bays, a truck wash, and approximately 20,000-sf of corporate office space.
| Mar 28, 2012
Ideas and input drive stories in online community, noraXchange
Community designed to help building and design professionals address challenges they face in their jobs.
| Mar 27, 2012
Skanska hires aviation construction expert Bob Postma
Postma will manage Skanska’s nationwide in-house team of airport construction experts who lead the industry in building and renovating airport facilities and their essential features.
| Mar 27, 2012
Precast concrete used for affordable, sustainable housing in New York
Largest affordable housing development in the nation will provide housing for close to 500,000 people.
| Mar 27, 2012
Groundbreaking held for Valencia College West Campus Building 10 in Orlando
Project led by design-build team of SchenkelShultz Architecture and McCree General Contractors, both of Orlando.
| Mar 26, 2012
Jones Lang LaSalle completes construction of $536M Parkview Regional Medical Center
Hospital ushers in new era of local access to advanced medical treatments in Northeast Indiana.
| Mar 26, 2012
McCarthy tops off Math and Science Building at San Diego Mesa College
Designed by Architects | Delawie Wilkes Rodrigues Barker, the new San Diego Mesa College Math and Science Building will provide new educational space for students pursuing degree and certificate programs in biology, chemistry, physical sciences and mathematics.
