Contractors couldn’t keep up with rising costs in April, group says
Contractors recouped a fraction of their costs last month because of rising petroleum and metals prices, according to an analysis of producer price index figures released today by the Associated General Contractors of America. Ken Simonson, the association’s chief economist, said in a news release that the producer price index for all materials increased by 1.4 percent in April and 7.1 percent during the past 12 months. Meanwhile, the price of finished buildings rose 1.1 percent or less in April and 1.7 percent or less in the past year, depending on building type.
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