This marks the first time year-over-year
material prices have dropped since 2009, the Associated General Contractors of America said.
Prices of many construction materials
dropped in July, the third-straight month of declines, the Associated General
Contractors of America reported.
This marks the first time
year-over-year material prices have declined since 2009, the AGC said.
However, the association noted that steel
and diesel fuel prices have risen recently, and that may put an end to any
further declines in materials costs.
“This price decline may be the last, given the
large jumps in diesel fuel and steel prices that have occurred or been
announced since the Labor Department collected this producer price data in mid-July,”
said Ken Simonson, the association’s chief economist. “If economic growth
accelerates, we are likely to see an end to discounted prices for construction
activity.”