Construction input prices increased 0.5% in March, according to a new Associated Builders and Contractors (ABC) analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data. In addition, nonresidential construction input prices rose 0.6% last month. Both overall and nonresidential construction input prices are 0.8% higher than levels from a year ago. According to the report, crude petroleum prices fell considerably in March, however, this decline was offset by rapidly rising natural gas, steel, copper, and lumber prices. Chart credit: Associated Builders and Contractors “Construction input prices increased at a rapid pace for the third consecutive month in March and have now risen at a 9.7% annualized rate through the first quarter of 2025,” said ABC Chief Economist Anirban Basu. “The emerging effects of tariffs are glaring in the March data release, with iron and steel, steel mill products and copper wire and cable prices all rising more than 5% for the month.” Chart ...