Construction Input Prices Edge Up

Construction input prices edged upward by 0.6 per cent in the U.S. in August over the previous month, says the Associated Builders and Contractors (ABC). Its analysis of the latest U.S. Bureau of Labor Statistics’ producer price index data shows non-residential construction input prices increased 0.3 per cent for the month. Softwood lumber input prices are a major contributing factor to the increase. They were up by 16 per cent month-over-month and are up 45 per cent compared to August 2019. A handful of categories experienced price declines in August, the largest of which were in steel mill products and prepared asphalt, both down -1.7 per cent.