According to the latest Producer Price Index (PPI) report, the prices of goods that are used in residential construction climbed 1.8 percent in November.

 
The report, released by the Bureau of Labor Statistics, shows that the price index of services inputs to residential construction decreased 0.8 percent in the same time frame. This marks a four-month trend where the index has declined 10.1 percent.

The PPI for all inputs to this industry increased 0.3 percent in November, 17.3 percent over the past 12 months and 22.7 percent since prior to the pandemic.

Softwood lumber jumped 6.9 percent in November and has seen a 16.1 percent spike since September. Mill prices suggest that softwood lumber PPI is headed for a steep gain in December. Meanwhile, steel mill prices hiked 2.4 percent in November, making it the smallest monthly increase since May 2021. The last monthly price decrease was in August 2020, but the index has since spiked 151.4 percent.

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