The latest Producer Price Index from the Bureau of Labor Statistics shows a continuation of the upward trends in the prices received of building materials, prior to consumer sales.
Over the month of September, OSB climbed by 2.5%, ready-mix concrete prices fell slightly, and gypsum prices have risen by 0.1%. Despite these marginal monthly gains and losses, the overall upward trend in the price of these goods remains: the price of OSB has climbed a cumulative 25% since February 2016, and ready-mix concrete has risen by 20% over the last five years.
The entire PPI rose by 0.3% this month, and the price of core goods less trade services rose 1.5% over the last 12 months.
Nearly one-third of the rise in prices for goods was attributable to 5.3% jump in gasoline prices. The indexes for other energy goods such as diesel fuel, jet fuel, and residential natural gas also moved higher. Prices for final demand services were buoyed by a 0.2% increase in prices of services less trade, transportation, and warehousing, which was advanced by a 3.9% increase in prices for the subcategory of financial-related services.