Construction Input Costs Declined 1.3 Percent From June to July; Contractor Bid Prices Remain on the Rise
Post date
August 12, 2022
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The price of materials and services used in nonresidential construction fell 1.3 percent last month, while contractors’ bid prices rose 5.4 percent, according to an analysis by the Associated General Contractors of America of government data released today. Association officials noted that, despite the monthly decline, materials prices remain high and the availability of certain key materials erratic.
“Contractors welcome any relief they can get in the cost of most construction materials,” said Stephen E. Sandherr, the association’s chief executive officer. “But it is still too hard to acquire most materials and prices remain quite elevated for many key products.”