Overall construction input prices rose 0.7% in February, slightly lower than the rate set in January, according to an Associated Builders and Contractors (ABC) analysis of Bureau of Labor Statistics data released yesterday. Compared to February 2017, prices are up 5.2%. Nonresidential construction materials prices are also up 0.4% on a monthly basis and 4.9% compared to the same time last year.
Prices for all 11 subcategories increased year over year, and only three saw monthly declines. Crude petroleum saw the largest drop in price, falling 7.3% for the month, though it is up 16.6% on a year-over-year basis. Prices were also down for prepared asphalt, tar roofing and siding products (-4.9%) and nonferrous wire and cable (-2.6%). The largest monthly increase was in natural gas, which rose 23.5% in February. The rise in natural gas and drop in crude petroleum is a reversal of what was seen in January’s data.
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