Inputs to residential construction, goods less food and energy, increased for the fifth straight month, according to the most recent Producer Price Index (PPI) report published by the U.S. Bureau of Labor Statistics. The index for inputs to residential construction, goods less food and energy, represents building materials used in residential construction. The non-seasonally adjusted index increased 0.21% in March following a 0.54% increase in February and a 1.25% in January. While the index increases are slowing, the index continues to grow at a faster rate than 2023 as the average monthly change in 2023 was 0.15%. Additionally, the index increases for the first three months of 2024 mirrors previous years, showing consistent monthly increases for January, February and March. …The seasonally adjusted PPI for softwood lumber rose for the first time since July of 2023, up 1.90% in March from February. Softwood lumber prices were 6.76% lower in March 2024 when compared to 2023.