, which are subject to a 50% tariff, soared 28% from November 2024 to November 2025. Meanwhile, the index for steel mill products, which are also subject to a 50% tariff, increased 4.6%. Other indices on steel products, such as for fabricated structural metal bar joints and rebar, also jumped 16.6%, according to the AGC report.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n\u201cInput costs for construction are rising faster than for producers or consumers in general, partly because the industry is faced with steep tariffs on many materials,\u201d said Ken Simonson, AGC chief economist. \u201cAlthough many contractors are accelerating purchases and attempting to pass along cost increases, their bid prices have not kept up, rising only 2.7% in the past 12 months.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n![\"-\"](\"https:\/\/www.abc.org\/Portals\/1\/CEU\/PPI_Table_1.14.26.jpg?ver=pNCNdkY4Gb-k7oxUq9ACbw%3d%3d\")
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AGC officials said the PPI report shows tariffs are indeed driving up construction costs.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n\u201cThe frequent increases and announcements about prospective tariffs have pushed up the cost of construction and made owners hesitant to commit to projects,\u201d said AGC CEO Jeffrey Shoaf in the release. \u201cContractors and owners alike need more certainty and fewer price shocks from tariffs to assure a health construction market in 2026.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\nLooking ahead, Basu said the lack of clarity will present even more challenges for contractors in the year ahead.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n\u201cUnfortunately, it is impossible to know exactly how the cost of tariffs will be distributed throughout the supply chain,\u201d said Basu. \u201cThat makes it exceptionally difficult to know how construction input prices will behave in 2026.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div>\n[ad_2]
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