If you’re bidding on a project now – or if you’re evaluating bids – here’s some information you’ll need to know: For the third month in a row prices of asphalt, lumber and steel increased between February and March, according to the Department of Labor’s monthly Producer Price Index (PPI).
Steel was up 3.4 percent from the previous month, lumber was up 2.1 percent and asphalt was up 0.6 percent. Concrete prices remained the same. Over the past year, steel prices have increased by 11.3 percent, asphalt prices have increased 3.1 percent and lumber prices increased by 17.3 percent. By contrast, concrete prices decreased by 2 percent from last year.