Commodity prices in March

The Producer Price Index for final demand rose 0.2 percent in March, seasonally adjusted, the U.S. Bureau of Labor Statistics reported April 11. 

The above charts show movement for hardware and building supply commodities both on a month-to-month and year-over-year basis.

Softwood lumber, which had been falling dramatically for months, gained 1.9 percent on the PPI for the month, a larger gain (by far) than any of the commodities tracked above.

On an unadjusted basis, the index for final demand increased 2.1 percent for the 12 months ended in March, the largest advance since rising 2.3 percent for the 12 months ended April 2023.

By the analysis of the Associated Builders and Contractors, an industry group, the new set of supply Construction input prices increased 0.4% in March compared to the previous month. Nonresidential construction input prices also increased 0.4% for the month.

Both overall and nonresidential construction input prices are 1.7% higher than a year ago. Prices fell in all three energy subcategories last month. Natural gas prices were down 37%, while unprocessed energy materials and crude petroleum were down 6.9% and 0.8%, respectively.