Cost of Construction Material up 4.6% from Last Year
The producer price index (PPI) for inputs to construction climbed 0.5% in the last month and 4.6% in the last year. Major cost drivers included diesel fuel 4.8% and 18.5%; copper and brass mill shapes 5.6% and 16%; and aluminum mill shapes 3.5% and 14%. The index for steel mill products fell 1.2% for the month but jumped 12% since Nov 2009. See AGC of America Economist Ken Simonson’s recent PPI tables.