Construction input prices fell by 0.6 per cent during January 2016 according to the US Bureau of Labor Statistics Producer Price Index released Wednesday.
Construction input prices are down 2.7 per cent from January 2015 and have now decreased on a year-over- year basis for 14 consecutive months, according to the Associated Builders and Contractors Wednesday.
US Construction Materials Prices: January 2016
Prices for inputs to nonresidential construction have behaved similarly, falling 0.8 per cent on a monthly basis and 2.7 per cent on an annual basis. Inputs related to energy — crude petroleum, natural gas and unprocessed energy materials — plummeted again in January, contributing heavily to overall construction input price declines.
Four key input prices expanded in January on a monthly basis:
• Nonferrous wire and cable prices expanded 2.1 per cent on a monthly basis but fell 5.2 per cent on a yearly basis.
Iron and steel prices grew by 1.1 per cent month-over-month but have declined 22.3 per cent year-over-year.
• Softwood lumber prices expanded 0.7 per cent for the month but fell 7.2 per cent on an annual basis.
• Prices for prepared asphalt and tar and roofing and siding products increased by 0.5 per cent on a monthly basis but are down 2 per cent on a year-over-year basis.
Seven key input prices remained flat or declined on a monthly basis:
• Crude petroleum prices plunged 23.1 per cent from December 2015 and are down 38.6 per cent from January 2015.
• Unprocessed energy material prices fell 10 per cent on a monthly basis and 26.4 per cent on a yearly basis.
• Natural gas prices shed 3.5 per cent for the month and are down 31 per cent for the year.
• Fabricated structural metal prices products fell 0.9 per cent month-over-month and 1.9 per cent year-over-year.
• Prices for steel mill products fell 0.3 per cent on a monthly basis and are down 19.2 per cent on a yearly basis.
• Prices for plumbing fixtures and fittings fell 0.2 per cent for the month and are up only 0.8 per cent from the same time one year ago.
• Concrete product prices remained unchanged on a monthly basis but have expanded 2.5 per cent year-over-year.