Dec 15, 201110:48 AMDaily Biz Briefs
Construction materials prices slip in November
Dec 15, 2011 - 10:48 AM
In a reflection of slow construction activity, construction materials prices slipped 0.1 percent during November, according to the U.S. Labor Department. However, construction materials prices are still 6.2 percent higher compared to the same time last year.Nonresidential construction materials prices were unchanged for the month and are 7 percent higher than November 2010. Iron and steel prices decreased 2.4 percent during November but are still 11.8 percent higher than the same time last year. Steel mill product prices fell 1.2 percent for the month but are up 13 percent year over year. Likewise, softwood lumber prices are down 1.2 percent compared to October but are 1.7 percent higher than November 2011.
Prices for prepared asphalt, tar roofing and siding dropped 5.4 percent for the month but are up 1.7 percent from November 2010. Prices for plumbing fixtures and fittings were unchanged in November but are 2.8 percent higher than one year ago.
In contrast, prices for nonferrous wire and cable increased 3.7 percent in November and are up 1.2 percent year over year. Prices for concrete products inched up 0.6 percent for the month and increased 0.9 percent during the last 12 months. Prices for fabricated structural metal products edged up 0.4 percent for the month and are 5.7 percent higher than one year ago.
Crude energy prices jumped 10.5 percent in November as crude petroleum prices surged 22.7 percent. Crude energy prices are 19.3 percent higher than in November 2010.
Overall, the nation's wholesale prices increased 0.3 percent for the month and are 5.9 percent higher than one year ago.
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