National construction materials prices barely declined in December-dipping 0.1 percent-and are just 1.3 percent higher than a year ago. Average annual prices in 2012 were 1.9 percent higher than 2011 prices, a reflection of unusual price stability during the course of the year. Nonresidential construction prices were down 0.3 percent in December and are up 0.8 percent year over year. Annual prices were up 1.7 percent compared to the previous year.
Despite the overall decline, prices of numerous construction materials rose last month (e.g., metal products costs generally trended higher in December). Iron and steel prices increased 0.8 percent for the month, but were 8.4 percent lower than the same time last year. Steel mill product prices were up 0.9 percent in December, but were down 7.9 percent on a year-over-year basis. Prices for nonferrous wire and cable increased 0.6 percent, but were 1.7 percent lower compared to December 2011. Prices for fabricated structural metal products inched up 0.3 percent for the month and were 0.6 percent higher than the same time last year. Prices for plumbing fixtures and fittings were up 0.3 percent compared to November and up 1.7 percent compared to December 2011.
Softwood lumber prices surged 2.1 percent in December and are up 17.3 percent relative to a year ago. Prices for concrete products increased 0.6 percent compared to the previous month and are up 2.4 percent compared to the same time last year. Prices for prepared asphalt, tar roofing and siding slipped 1.1 percent in December and are down 0.6 percent on a year-over-year basis.
Crude energy materials prices jumped 7.2 percent in December, driven by a 9.4 percent increase in crude petroleum prices. Year over year, crude energy materials prices are down 4.5 percent.
Overall, the nation’s wholesale goods prices fell 0.2 percent in December, but are 1.3 percent higher than the same time last year. Annually, 2012 wholesale prices were 1.9 percent higher than 2011 prices.