Market and material pricing continues to stay within relatively normal ranges, however copper and steel continue to be outliers with copper pushing higher, steel trending lower on a month over month basis. Current lead time information for major Electrical and Mechanical Equipment is shown below. For detailed information and longer-term trends please see the graphs and charts below. There are three different views for materials and commodities, continue to note the labor market information on the fourth tab. Use the arrows at the bottom of the chart to switch between views and use the drop-down menu to navigate between products and commodities.
Other notes:
- Overall month-over-month changes in June indicate continued moderation of inflation pressures.
- Final construction costs have stabilized somewhat as backlog pressures appear to continue.
- Labor continues to be pressured in certain markets, though wages increases are slowing. Regional pressures will continue in labor markets as large manufacturing, infrastructure and healthcare projects ramp up.
- Even though the pace of wage increases has slowed, it is still trending at the upper end of historical averages year-over-year, with national wages up 4.61% year-over-year, and Texas wages up 7.96% year-over-year.
- Electrical construction and roofing construction continue to lead the way for areas where significant price increases have occurred, with Electrical spiking up 2.44% in just the last month.
