The PPI of Residential Construction Inputs Raised 0.4%
The National Association of Home Builders (NAHB) recently reported that the producer price index (PPI) for residential construction less energy (meaning building materials) finally increased during February and January of this year. Prices have increased 2.9% in the past year.
The NAHB credits ready-mix concrete (RMC) as a main contributor to the increase, as the price of RMC increased by 0.8% in February and 0.7% in January. Most geographic regions in the United States saw smaller increases, but the Northeast saw an increase of 4.2%, driving up the average price.