Construction input prices edged upward by 0.4% in February compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics Producer Price Index data released today.
Overall construction input prices are 2.6% higher than a year ago, while nonresidential construction input prices are 2.8% higher.
Softwood lumber prices climbed 3.5% higher than a month ago but 45.1% lower on a year-over-year basis.
Lumber and wood product prices were flat for the month and down 14.9% from the same period a year ago.
Gypsum products saw a 1.3% increase in February and are 11.7% higher than February 2022 prices.
Compared to the prior month, Adhesives and sealants are up 0.8%, concrete products edged upward 0.5%, insulation materials slipped 0.8%, construction machinery and equipment inched forward 0.4%, and iron and steel products saw a 2.9% rise.