Construction input prices decreased 0.9% in September compared with August, according to an Associated Builders and Contractors analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data.
Overall construction input prices were down 1.9% in September 2024 compared with September 2023.
“The decline in construction input costs observed in September was almost entirely due to a large decrease in oil prices,” ABC Chief Economist Anirban Basu said in a statement. “Certain materials, like gypsum, fabricated structural-metal products, asphalt and lumber exhibited sizable price increases for the month.”
The complete report from ABC can be found here.
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