Plunging prices for diesel fuel, lumber, and steel slowed inflation for materials and services used in construction in December in the US, but relief may be short-lived, according to an analysis by the Associated General Contractors of America of government data.
The analysis also noted that contractors listed material costs as one of their top concerns in a survey the association released this month.
“While producer price indexes for construction inputs fell in December, they still outpaced other inflation measures for the year,” said Ken Simonson, the association’s chief economist.
