The Bureau of Labor Statistics (BLS) has released its producer price index report for December 2024, which reveals that construction material prices for the basket of goods listed below decreased by 0.47% compared to the previous month and are still 0.58% lower than they were a year ago. Construction materials pricing remains 42.25% higher than at the start of the pandemic. New non-residential construction pricing has decreased 0.08% since November of 2024, with an increase of 0.28% from 12 months ago and remains 36.20% higher than in January of 2020 (Pre-COVID).
INPUTS TO CONSTRUCTION (PPI’S)
Updated 01/15/25
*Pre-Covid is defined as cost change since 1/1/2020, prior to the pandemic, so as not to artificially inflate any increases. Data Source: BLS: www.bls.gov/cpi for CPI, www.bls.gov/ppi for PPIs; www.bls.gov/ect for ECIs Compiled by David Picone (dpicone@odonnellsnider.com), Director, Client Engagement - O'Donnell Snider Construction