WASHINGTON — Construction input prices rose 0.6 percent in August and are up 3.7 percent on a yearly basis, according to an analysis by Associated Builders and Contractors Inc. (ABC) based upon data released by the Bureau of Labor Statistics (BLS). Nonresidential construction input prices behaved similarly, rising 0.6 percent for the month and 3.5 percent for the year.
Only three of the 11 key construction input prices fell for the month. The inputs experiencing declines in prices were steel mill products (minus 1.5 percent), prepared asphalt, tar roofing and siding products (minus 0.3 percent), and natural gas (minus 1.8 percent). Crude petroleum prices exhibited the largest increase, rising 11 percent on a monthly basis and 15 percent on an annual basis.