Construction Pricing Shows Some Signs of Relief in May

“Beyond those spheres, there is plenty of input price inflation,” said Basu. “For instance, concrete prices increased +1.1% for the month and more than +12% for the year. The price of construction machinery and equipment rose marginally for the month and is up more than +9% over the past year. Prices for brick and structural clay tile as well as adhesives and sealants are also up more than +9% over the past 12 months. In short, there are still supply chain challenges, but a weakening global economy has helped place downward pressure on several traded commodities. With so many public and private megaprojects under development in the United States, it is likely that many input price categories will continue to show inflationary tendencies even if the overall economy dips into recession.”