U.S. construction input prices increased 0.3% in October compared to September, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics Producer Price Index data released Nov. 14.
Nonresidential construction prices also rose 0.3% during October.
ABC reported a rise across all three subcategories last month, with natural gas increasing by 29.3%, unprocessed energy materials up by 9.9% and crude petroleum increasing by 7.3%.
Construction input prices overall were down 0.2% year-over-year, while nonresidential input prices likewise decreased by 0.5%.
“Heading into 2025, it’s unclear if prices will remain so well-behaved,” ABC Chief Economist Anirban Basu said in the release. “The next administration’s trade policy increases uncertainty regarding construction materials costs. Beyond the implications of potential tariffs, input prices may rise in the short term if purchasers rush to import materials prior to the implementation of those policies.”
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