The prices contractors pay for construction materials continued to increase in August while many firms report struggles to get those materials delivered on time, according to an analysis by the Associated General Contractors of America of government data released today. Association officials urged Washington officials to take steps to help address the challenges impacting the entire supply chain and driving the price escalations.
“July was the seventh-straight month of double-digit price increases for construction inputs,” said Ken Simonson, the association’s chief economist. “Adding to the challenge, contractors are struggling to pass along even a fraction of these added costs onto their clients.”
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