Price of construction materials down recently; economist predicts more stability in materials pricing.

The price of construction materials decreased 1.8 % from October 2018 to November 2018, according to data released by the U.S. Bureau of Labor Statistics.  Materials prices are still 5.3% higher than last year, led by double digit percentage increases in steel, iron, and natural gas.  According to Associated Builders and Contractors, Inc.’s chief economist, Anirban Basu, this new report is generally good news for contractors.  According to Basu, “[w]ith the global economy expected to continue to weaken and the dollar expected to remain strong, contractors should expect only moderate increases in materials prices during the early months of 2019, though further declines in input prices are certainly possible.”

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