Is inflation cooling? Building material prices indicate yes

Home Featured Post Is inflation cooling? Building material prices indicate yes

Washington, D.C.—Continuing a trend of slowing price growth that began in 2022, overall prices of building materials were unchanged in June, according to the latest Producer Price Index (PPI) report. The index has gained 0.5% year to date and has not increased 1% or greater in any month since March 2022.

The PPI for all final demand goods was unchanged in June following a 1.6% decline in May (seasonally adjusted). The index has declined 0.2% from a year ago, while the PPI for final demand goods less food and energy has increased 2% (not seasonally adjusted).

Gypsum building materials:

  • PPI fell 0.3% in June after declining 1.1% in both April and May.

Steel mill products:

  • Steel mill product prices were spared in June, declining 0.6% after a four-month period during which prices climbed 12.4%.

Softwood lumber:

  • PPI for softwood lumber (seasonally adjusted) increased 3.9% in June – the second increase over the past three months.

Ready-mix concrete:

  • Prices increased 0.5% in June.
  • The PPI has risen each of the last 15 months, 27 of the last 30, and has climbed 12.3% over the past year. However, price growth slowed 0.8 percentage point over the month.
  • The average monthly increase declined from 1% in 2022 to 0.7% in 2023.

Freight prices:

  • The price of truck and rail transportation of freight decreased 2.1% and 0.4% respectively in June while the PPI for deep sea (i.e., ocean) freight increased 0.4%.
  • Trucking freight prices declined 13.7% over the past year with both long-distance (-15.1%) and local (-9.2%) motor carrying prices falling 92% and 4.1%, respectively.

Must Read

Cali launches Vinyl Windandsea High Tide collection

San Diego—Cali has unveiled the CALI Vinyl Windansea High Tide collection, a lengthier upgrade to its classic Windansea series, now denoted as Low Tide. Designed to...

Emser Tile releases 2024 catalog

Los Angeles—Emser Tile has released its 2023/2024 catalog, available both in print and online. The newly released 450+ page resource offers an extensive and varied...

Latest innovations in subfloor solutions

Most professional installers would agree the ultimate success of any flooring installation largely depends on the condition of the subfloor that lies beneath. To that...

AHF announces exclusive partnership with Spartan Surfaces

Mountville, Pa.—AHF Products has entered into a strategic agreement with Spartan Surfaces, effective September 21, 2023. Spartan Surfaces will have exclusive distribution for the...

FCEF awarded federal grant for installation training

Dalton—The Floor Covering Education Foundation (FCEF) has been awarded a federal grant to fund installation training programs at several colleges in Alabama over the...

‘Tuesday Tips:’ 5 steps to prepare for severe weather Dalton—The World Floor Covering Association (WFCA) released a new “Tuesday Tips” this week. In the series, WFCA experts presents short video tips for improving customer service...
Some text some message..