Tracking the Producer Price Index for 10, key industry commodities.
The Producer Price Index for softwood lumber increased 3.4 percent from May to June, a big swing from the previous month when softwood lumber dropped 5.0 percent.
Even with that swing — which is by far the most dramatic month-to-month swing of the 10 commodities tracked in the chart below — softwood lumber is normalizing on a year-over-year basis — its index is down 7.4 percent from a year ago.
Released Friday morning by the U.S Bureau of Labor Statistics, the Producer Price Index for final demand advanced 0.2 percent overall in June.
Here are the details of 10 key industry commodities.
An analysis of the numbers from Washington, D.C.-based industry group Associated Builders and Contractors found overall construction prices are 1.1 percent higher than a year ago.
“Construction materials prices dipped in June, perhaps a reflection of declining project starts in a number of construction segments and an associated dip in demand,” said ABC Chief Economist Anirban Basu. “For instance, input prices fell in the multifamily segment, where many contractors indicate substantial softening of demand for their services. The same was true of input prices in commercial construction segments.
He added: “While construction input prices fell last month according to today’s report, overall inflation as measured by the Producer Price Index is hotter than anticipated.”