Construction costs still rising
Published: December 16,2009
The price of construction materials and supplies rose 0.6 percent in November, the first increase in two months. That according to the producer price index (PPI) report by the U.S. Labor Department. However, the overall price of construction materials remains 2.3 percent below levels from one year ago.
Overall, the nation’s wholesale prices rose 1.8 percent on a monthly basis and are up 2.4 percent on a year-over-year basis.
“Increasingly, the producer price index for construction industries has come to reflect the growing economic recovery that has been in place since late summer 2009,” said Associated Builders and Contractors chief economist Anirban Basu. “Prices are now rising in general, a reflection of higher asset prices across the world, as well as the demand for materials in stimulus-impacted construction segments in the U.S. and in other nations, including China, India and Brazil.”
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- Officials set hunting dates for birds; expands dove season by 20 days
- FLIPPING OUT — Flipping houses is popular in much of the country, but in Mississippi ...
- REVVING UP — Motorcars of Jackson is preparing to open its first-ever showroom on I-55
- Mississippi judge dismisses lawsuit seeking to overturn Sen. Cochran's GOP primary win
- George Flaggs regrets repayment flaw in lending law
- TECH 21 — Mississippi's most wanted in technology
- Chefs John Folse and Rick Tramonto are dotting every ‘i’ and crossing every ‘t’ in the development of Seafood R’evolution, which is set to open in November
- PEDIGREE dog food recalled; might contain metal fragments
- Bryant issues executive order to establish Delta water task force