PROVIDENCE – Construction costs have increased steadily this year, and jumped again in March, according to the Associated General Contractors of America, a trade group that represents building companies.
In its analysis of U.S. Labor Department data, the contractors reported that prices increased for items even before threatened tariffs, for steel, aluminum and other products, were enacted against China.
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Steel service centers and other suppliers have warned there is not enough capacity at U.S. mills or in the trucking industry to deliver orders on a timely basis, said Ken Simonson, the association’s chief economist, according to a news release.
The producer price index, a measure of all materials used in construction, including diesel, rose by nearly 1 percent in March and 5.8 percent over the past 12 months.
Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com.
