Construction Input Prices Up 3% in March, 24% Year Over Year
WASHINGTON — Construction input prices rose 2.9% in March, according to an Associated Builders and Contractors (ABC) analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices expanded 2.8% for the month.
Construction input prices are up 24.4% from a year ago and 39.1% from February 2020, the month before the COVID-19 pandemic began to affect the economy, while nonresidential construction input prices are 25.0% and 39.2% higher, respectively. Natural gas prices are up more than 200% since the start of the pandemic, while crude petroleum prices are up more than 100% over that span.