According to the Producer Price Index (PPI) report that was released by the Bureau of Labor Statistics, prices of goods used in residential construction jumped 1.6 percent in February, not seasonally adjusted.

 
Building material prices increased 20.4 percent year-over-year and 31.3 percent since January 2020. Increases were held by metal, gypsum, and concrete products.

Steel and gypsum PPI declined in February 9.9 percent and 1.9 percent respectively. Meanwhile, ready-mix concrete, paint, and softwood lumber saw gains in February.

Ready-mix concrete's PPI gained 0.8 percent after a 1.1 percent spike in January. After a 12-month time frame, prices of exterior and interior paint increased 30.3 percent and 21.2 percent, but paint remained steady in February. Softwood lumber increased 2.6 percent in February following a combined 28.9 percent increase according to the PPI.

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