Construction materials prices crept up 0.5 percent in March and increased 1.1 percent year-over-year, the Associated Builders and Contractors said, citing the Labor Department’s April 11 producer price index.

Nonresidential construction materials prices increased 0.4 percent for the month and are up 1 percent compared with March 2013.

 “Despite the increase in materials prices, this report does not signal a period of much higher inflation,” said ABC Chief Economist Anirban Basu. “While it is true that there were significant increases in overall monthly inflation for both the broader economy and for construction, only a handful of categories were actually associated with a meaningful uptick in prices.”