US Producer Prices Up in February

By Jesse Wade
NAHB – Eye on Housing
March 14, 2024
Category: Finance & Economics
Region: United States

Inputs to residential construction, goods less food and energy, increased for the fourth consecutive month to a new high, 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 0.49% between January and February after increasing 1.27% between December and January. …The seasonally adjusted PPI for softwood lumber fell for the seventh consecutive month, down 2.98% in February. Softwood lumber prices were 10.35% lower in February 2024 when compared to 2023. …The non-seasonally adjusted PPI for gypsum building materials jumped 2.95% in February after falling for ten straight months. …The seasonally adjusted PPI for ready-mix concrete rose 0.25% in February after rising 1.76% in January. …The non-seasonally adjusted PPI for steel mill products rose for the third straight month, up 2.86% in February.

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