Construction Material’s Prices Decrease .4 % in October, 2012, But What does that Mean for the Economy?November 25, 2012
The nation’s construction materials prices fell down, for the first time in three months, falling .4% in October, 2012. (According to the U.S. Labor Department’s producer price index (PPI)).
But, materials prices remain 2 percent higher than the same time last year.
Nonresidential construction materials prices fell 0.5 percent for the month, but were 1.8 percent higher than a year ago.
Iron and steel prices dropped about 3.8 percent in October, 2012 and are 11.8 percent lower than the same time last year.
Prices for steel mill products also were down for the month of October, slipping 1.9 percent, and are 8.5 percent lower than this time in 2011. Softwood lumber prices fell 2.7% on a monthly basis, but are up 6.7 percent compared to a year ago. Prices for fabricated structural metal products did not change for the month and have increased only .6 % higher during the last twelve months.
But, a number of construction materials experienced price increases this month.
Cost of nonferrous wire and cable increased 1.4 percent for the month and are 2.6 percent higher than last year. Prices for prepared asphalt, tar roofing and siding increased 0.7 percent in October, but are 1.9 percent lower from October, 2011. Plumbing fixtures and fitting prices rose 0.4 percent for the month and are up 1.8 percent than one year ago.
Prices for concrete products increased 0.2 percent on a monthly basis and are 2.6 percent more expensive on a year-over-year basis.
Taking everything into consideration, the nation’s wholesale goods prices slipped 0.2 percent in October, 2012- but are 2.3 percent higher than the same time last year in October, 2011.Blog. Bookmark the permalink.
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