Construction input prices ticked up 0.4% in July, the same increase for nonresidential inputs, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data.
Input prices now sit 2.2% higher overall and 2.6% higher for nonresidential construction compared to a year ago, according to the report. Copper wire and cable, for example, surged 4.9% in July and 12.2% year over year.