Construction materials prices decreased 0.1 percent in June and are virtually unchanged for the quarter, according to the July 12 Producer Price Index report by the U.S. Labor Department.
Year over year, construction materials prices are 1.5 percent higher. Nonresidential construction materials prices were unchanged in June, rose 0.1 percent for the quarter and increased 1.2 percent during the last 12 months.
“With the global economy beginning to tread water, the good news is materials prices are unlikely to rise significantly during the next several months,” says Associated Builders and Contractors chief economist Anirban Basu. “However, even as global economic growth slows, equity and certain other asset prices have been on the rise due in large measure to accommodative monetary policy.”