Construction input prices were 1.1% lower than a year ago in April, the second consecutive month that the cost to build a given project decreased compared to the same period in 2022, according to an Associated Builders and Contractors analysis of government data released Thursday.
For the month, overall construction prices inched up 0.2%, while nonresidential costs gained 0.4%. Still, those relatively minor increases couldn’t overshadow the latest positive takeaway for construction when it comes to material prices: They are generally going in the right direction after the pandemic’s historic inflation rates.
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