The prices of building materials rose 0.4% in July while softwood lumber prices increased 2.3%.
According to NAHB, the PPI for ready-mix concrete (RMC) gained 2.5% in July and has increased in 17 of the last 18 months. The index has climbed 6.8%, year-to-date, the largest YTD July increase in the series’ 34-year history. The PPI for finished concrete products has climbed 14.4% over the past 12 months and the price of structural concrete block is up 12.9% over the same period. Concrete pipe and prestressed concrete products prices also have climbed 21.0% and 29.9%, respectively, since July 2021.