Construction materials prices flat in July, up 7.4% YoY reports advocacy group

Construction and nonresidential input prices were virtually unchanged in July, rising just 0.1% from the prior month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics Producer Price Index data released today. Overall construction input prices are 7.4% higher than a year ago, while nonresidential construction input prices are up 7.2% year over year. Energy trends were mixed: prices fell in two of three energy subcategories, with crude petroleum down 11.9% and unprocessed energy materials down 7.4%, while natural gas increased 10.4%. ABC Chief Economist Anirban Basu cited lower fuel early in the month, though lumber and iron/steel are continuing to climb.