Prices paid for goods used in residential construction ex-energy rose 2.1% in January (not seasonally adjusted) and have increased 6.8% over the past 12 months, according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. Building materials (i.e., inputs to residential construction less food and energy) prices have declined just twice since December 2019.
The index for inputs to residential construction, including food and energy, also increased over the month (+2.5%) as energy prices climbed 5.1%.
Prices paid for softwood lumber (seasonally adjusted) rose 13.9%. Lumber prices have remained extremely volatile since the 88.5%