Construction materials prices increased 0.3% in October compared with September, according to an Associated Builders and Contractors analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data.
Overall construction materials prices were 0.2% lower in October 2024 compared with October 2023.
“Higher energy prices drove the increase in construction input prices observed in October,” ABC Chief Economist Anirban Basu said in a statement. “While prices for a few other materials, like concrete and copper products, also rose for the month, overall input prices are lower than they were one year ago and have fallen 5% since reaching an all-time high in June 2022.”
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