November sees a 0.3% drop in US construction material prices

Posted on December 18, 2023   |  

Construction input prices went down by 0.3% in November compared to the month before.

Nonresidential construction input prices also dropped by 0.3% during the same month.

Despite the recent decrease, the costs for construction materials are still almost 39% higher than they were before the COVID-19 pandemic.

Overall construction input prices are 0.8% lower than a year ago, with nonresidential construction input prices showing a 0.4% decrease.

In the energy sector, crude petroleum input prices saw a significant 9.5% decrease, while prices for unprocessed energy materials went down by 3.2%. On the other hand, natural gas prices rose by 24.1% in November.