Construction material prices increased 1.4% from December to January and are 1.3% higher than in January 2024, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics data.
“Materials prices increased at the fastest monthly pace in two years in January,” ABC Chief Economist Anirban Basu said in a statement. “This rapid escalation is largely due to three factors. First, energy prices rose sharply. Second, producers often raise their prices at the start of the year. And third, many purchasers rushed to buy inputs before potential tariffs could go into effect, and that surge in demand pushed prices higher.”
Read the full report here.
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