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November sees a 0.3% drop in US construction material prices
Posted on December 18, 2023 |
Construction input prices went down by 0.3% in November compared to the month before.
Nonresidential construction input prices also dropped by 0.3% during the same month.
Despite the recent decrease, the costs for construction materials are still almost 39% higher than they were before the COVID-19 pandemic.
Overall construction input prices are 0.8% lower than a year ago, with nonresidential construction input prices showing a 0.4% decrease.
In the energy sector, crude petroleum input prices saw a significant 9.5% decrease, while prices for unprocessed energy materials went down by 3.2%. On the other hand, natural gas prices rose by 24.1% in November.