The Producer Price Index for inputs to construction industries declined for a fourth consecutive month in October, according to Associated Builders and Contractors’ (ABC) analysis of Bureau of Labor Statistics data. The index stands at its lowest level since the first quarter of 2011 as prices for construction inputs declined 0.2 percent on a monthly basis and 4.6 percent year-over-year.

Nonresidential construction input prices have fallen 0.3 percent since last month and 5.1 percent over the past 12 months. Nine of 11 key input prices are down on a year-over-year basis.

“The dollar has continued to increase in value into November against a variety of globally important currencies, including the euro, yen and Canadian dollar,” says ABC chief economist Anirban Basu. “Commodity prices, including oil and copper, continue to plummet largely as a result of the strong dollar, though weaker than anticipated economic performance in key emerging nations is also playing a part, including in China, Russia and Brazil. Unless this changes over the course of November’s final two and a half weeks, November will represent a fifth consecutive month of construction industry input price declines.”

Six key input prices rose or remained unchanged in October on a monthly basis, while one remained unchanged. Fabricated structural metal product prices ticked up 0.2 percent in October, but are down 0.6 percent from one year ago.

Four key input prices fell in October on a monthly basis. Iron and steel prices lost 4.4 percent month-over-month and 21.2 percent year-over-year.