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Report: Materials prices soared 20% in 2021

January 14, 2022

The producer price index for inputs to new nonresidential construction — the prices charged by goods producers and service providers, such as distributors and transportation firms — increased by 0.5% in December and 19.6% in 2021 as a whole, according to the release.

The index price for plastic construction products, for example, climbed 1.3% for the month and 34% over 12 months, according to the release. The index for lumber and plywood rose 12.7% and 17.6%.

One key issue, said the AGC in the release, is that the rising materials prices are threatening to set back a strong picture of economic growth and recovery for the construction industry and damage its outlook in 2022.

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