The cost of materials used by the construction industry jumped in January at their fastest monthly pace in two years as contractors raced to secure products before President Donald Trump imposed sweeping tariffs on imports from Canada, Mexico and China.
Overall construction input prices rose 1.4% in January from December, a more than 40% increase since February 2020, according to a report by the Associated Builders and Contractors, which analyzed the U.S. Bureau of Labor Statistics Producer Price Index report released Thursday.
Average material inputs to all facets of the construction industry, including commercial, multifamily, industrial and healthcare — rose less than 1.2% year-over-year, demonstrating how prices have risen faster in recent months.
Source: Construction Material Costs Jumped In January In Anticipation Of Trump Tariffs
