Construction input prices decreased 0.3% in November compared to the previous month, according to an Associated Builders and Contractors analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index. Nonresidential construction input prices decreased 0.3% for the month as well. Inputs to construction are still nearly 39% higher than at the start of the COVID-19 pandemic.
Overall construction input prices are 0.8% lower than a year ago, while nonresidential construction input prices are 0.4% lower. Prices decreased in 2 of the 3 energy subcategories last month. Crude petroleum input prices were down 9.5%, while unprocessed energy materials prices were down 3.2%. Natural gas prices rose 24.1% in November.