Construction material prices increased 0.5% from February to March and were 0.8% higher than in March 2024, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics data.
The increase was caused by rising prices in natural gas, steel, copper, and lumber, which resulted from the introduction of tariffs, according to ABC’s analysis.
“Construction input prices increased at a rapid pace for the third consecutive month in March and have now risen at a 9.7% annualized rate through the first quarter of 2025,” ABC Chief Economist Anirban Basu said in a statement. “The emerging effects of tariffs are glaring in the March data release, with iron and steel, steel mill products and copper wire and cable prices all rising more than 5% for the month.”
Read the full report here.
