Construction costs have begun to rise after remaining relatively low for the past year, according to analysis of the latest producer price index.
The analysis found that the price of construction materials increased between August and September, with copper rising 10 percent, aluminum up 2 percent and steel up 3 percent.
“These figures serve as an important reminder that governments and developers looking for a good deal on construction should act quickly before having to pay significantly more for their projects,” said Ken Simonson, chief economist for the Associated General Contractors of America, who performed the analysis.
Other construction materials also increased in price, including plastic, 1.2 percent; prestressed concrete, 1.5 percent; and iron and steel pipe and tube, 1.2 percent. Materials declining in price included gypsum, down 1.2 percent, and plywood, down 0.3 percent. Margaret Jackson, The Denver Post
