Construction Materials Prices Slip for Second Consecutive Month in June

The amount contractors pay for a range of key construction materials decreased for the second consecutive month in June and inched up by just 0.5 percent from a year earlier, according to an analysis of producer price index figures released today by the Associated General Contractors of America. Meanwhile, the amount contractors charge to construct projects was virtually unchanged for the month and rose only between 3.2 and 4.4 percent from a year ago. “Contractors are finally seeing sustained relief from the outsized cost increases that buffeted them last year,” said Ken Simonson, the association’s chief economist.  “The half-percent rise in the producer price index for construction inputs from June 2011 to June 2012 was the smallest year-over-year swing since December 2009.” Read the full press release here. The news was covered by the Associated Press, Wichita Business Journal and For Construction Pros, among others.