Building Materials Prices Inch Higher in November

By David Logan
NAHB – Eye on Housing
December 13, 2023
Category: Finance & Economics
Region: United States

According to the latest Producer Price Index report, the price level of inputs to residential construction less energy (i.e., building materials) increased 0.2% in November after declining 0.4% in October. The index has increased 0.8% year-to-date. …Ready-mix concrete prices gained 0.1% in November as monthly price growth slowed for the second consecutive month. …The PPI for gypsum building materials was unchanged in November after falling slightly in October. …The price of steel mill products decreased 1.5% in October. …Softwood lumber price declines accelerated in November as the index dropped 5.8%, more than double the October decrease. The index has fallen 19.7% over the past 12 months and is lower than it has been at any point since March 2020. …The prices of rail and deep sea (i.e., ocean) transportation of freight climbed, respectively, 0.4% and 1.6%,. In contrast, the PPI for truck transportation of freight fell 0.6%.

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