Construction PPI rose in May but some prices drop since then; IP, Reed show gains

The producer price index for finished goods rose 0.3 percent in May, not seasonally adjusted (but fell 0.3 percent, seasonally adjusted) and 5.3 percent over 12 months, the Bureau of Labor Statistics reported on Wednesday [June 16]. The PPI for inputs to construction, a weighted average of all materials used by every type of construction plus items consumed by contractors, such as diesel fuel, increased 0.7 percent and 5.9 percent. Despite the higher input costs, contractors continued to bid work at lower prices than a year ago, according to a June 18 Data DIGest report.