According to a report from the Associated Builders and Contractors (ABC) construction input prices are 2.8% higher than a year ago. While input costs decreased 0.6% in December compared to the previous month, overall material prices increased. For example material prices of copper wire and cable increased 4.6% in December, reportedly up 22% year over year. This includes primary nonferrous metal prices up 62% over the past year.
“Prices for commodities less exposed to tariffs, like asphalt or crushed stone, will likely remain tame in the coming months due to soft demand for construction services,”ABC Chief Economist Anirban Basu. “While that may limit increases in overall materials prices, trade policy will continue to put upward pressure on certain materials.”
