Construction costs still rising
by Wally Northway
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.
Top Posts & Pages
- George’s Girls put shopping skills to work
- DMR pays accounting firm more than double contract's worth
- Following ruling, Entergy to hand over records to county
- MSU Foundation names five new members
- Crowded field lines up for Jackson mayoral election
- Justice Department files complaint against tax preparer
- Another fiberhood qualifies for C Spire 1-gigabit Internet service
- Cochran questions nominee concerning Stanford ponzi scheme
- Report: State's emergency care ranks highest in Southeast