Construction costs jump at a 6% annualized rate

Spikes in iron, steel, copper and aluminum prices in May largely offset declines in energy, according to the latest Producer Price Index data. Despite rising prices, many contractors still see positive trends in the months ahead. Due to a “cooler-than-expected” inflation reading in May, the chances of an interest rate cut by the Federal Reserve in 2025 have improved. That would provide construction activity with a boost. Check out the full Construction Dive Article to learn more: Link