The price of construction materials increased 0.5% in March, while nonresidential input prices climbed 0.6%, both unusually steep jumps, according to an analysis by Associated Builders and Contractors (ABC) of U.S. Bureau of Labor Statistics data as reported by Construction Dive. Both overall and nonresidential input prices are now 0.8% higher than a year ago and sit more than 40% higher compared to February 2020, largely due to a sharp rise in natural gas, steel, copper and lumber prices. The price escalations across the board reflect early impacts from tariffs and mark the third straight month of price jumps, said Anirban Basu, ABC chief economist. “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 Basu.
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