Softwood lumber maintains its volatility
On the heels of Wednesday’s Consumer Price Index report, which showed a slowing rate of inflation, the Bureau of Labor Statistics this morning released the Producer Price Index.
The result: the PPI advanced 0.2 percent in April, on a seasonally adjusted basis, generating a year-over-year 2.3 percent rise – the slowest rate since January of 2021.
Among commodities most relevant to hardware and building supply dealers, softwood lumber showed the most movement. It once again showed the largest year-over-year price decline —down 38.9 percent —while also showing a 6.2 percent increase in its seasonally adjusted month-to-month pricing.
Prices for final demand less foods, energy, and trade services rose 0.2 percent in April after inching up 0.1 percent in March. For the 12 months ended in April, the index for final demand less foods, energy, and trade services increased 3.4 percent.
