Construction material prices continued to rise in August, the seventh consecutive month of double-digit price increases year-over-year, according to an analysis by the Associated General Contractors of America.
“Adding to the challenge, contractors are struggling to pass along even a fraction of these added costs onto their clients,” AGC Chief Economist Ken Simonson said in a statement.
The index for lumber and plywood increased 15.9 percent during the past 12 months.
The index for truck transportation of freight, meanwhile, increased 14.1 percent.
The full AGC report can be found here.