Material Prices Back on the RiseMaterial Prices Back on the Rise
An elevated producer price index indicates the economy remains overheated, said Anirban Basu, chief economist at Associated Builders and Contractors.
February 22, 2023
After recording their biggest drop in over two years, overall construction and nonresidential input prices whipsawed upwards again in January, increasing 1.3% and 1.1% respectively, according to an Associated Builders and Contractors report.
Both categories are 4.9% higher than a year ago. The jump in overall construction input prices reflected the smallest annual increase since January 2021, according to the report, but stymied progress made in December, when prices plunged 2.7%, the largest drop since April 2020.
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