Construction Material Prices Surge in April

www.abc.org: Prices for inputs to construction materials expanded 1.3 percent in April and are 6.4 percent higher than at the same time one year ago, according to an ABC analysis of U.S. Bureau of Labor Statistics data. This represents the largest month-over-month increase in almost three years and the largest year-over-year increase since October 2011. Prices for nonresidential construction inputs increased 1.6 percent on a monthly basis, and are up 6.3 percent year over year.