Prices For Nonresidential Construction Materials, Services Climb .5% in February

The price of materials and services used in nonresidential construction rose .5% in February, following an increase of .7% in January, according to an analysis by the Associated General Contractors of America of government data.

The producer price index for inputs to new nonresidential construction —a weighted average of all materials and certain services used in new construction — increased for the second month in a row. Meanwhile, the index for new nonresidential building construction — a measure of what contractors report they would charge to put up a specific set of buildings — dipped by .1% in February, following an increase of .3% in January.

A variety of materials, especially metals, contributed to the increase in the price index for inputs. The index for steel mill products jumped 2.7% in February. The index for copper and brass mill shapes rose by 1.8%, following a 1.3% gain in January. Aluminum mill shapes rose 1% in price for the month. In addition, the index for diesel fuel climbed 2.3% and the index for lumber and plywood rose 1.7%.

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