| Construction prices climbed another two percent in July, the latest period for which figures are available, posting an 11.9 percent increase from a year ago, according to the U.S. Labor Department's Producer Price Index released recently.
This marks the largest year-over-year jump in the last 20 years. Prices for fabricated structured metal products continued to grow, rising 1.6 percent in July and 10.1 percent during the past six months. Plumbing fixtures and fittings increased another 1.4 percent in July after reporting the same increase in June.
Nonferrous wire and cable prices rose 1.8 percent in July, compared to a 2.8 percent drop in June, and fabricated ferrous wire products jumped 6 percent in July, bringing the total increase since July 2007 to 24 percent. Prices for softwood lumber saw their first decrease since February, falling 3.4 percent in July. Asphalt felts and coatings prices soared 12 percent in July compared to June, bringing the year-over-year increase to 27.9 percent.
Prices for crude energy materials rose 6.9 percent in July at a seasonally-adjusted rate, following an increase of 5.4 percent in June. In addition, natural gas prices rose another 7.8 percent in July after a 5.2 percent jump a month earlier. The total price for all finished goods increased 1.2 percent in July after rising 1.8 percent in June.
|
