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Is Inflation Cooling? Building Material Prices Indicate Yes

Continuing a trend of slowing price growth that began in 2022, overall prices of building materials were unchanged in June, according to the latest Producer Price Index (PPI) report. The index has gained 0.5% year to date and has not increased 1% or greater in any month since March 2022.

The PPI for all final demand goods was unchanged in June following a 1.6% decline in May (seasonally adjusted). The index has declined 0.2% from a year ago, while the PPI for final demand goods less food and energy has increased 2% (not seasonally adjusted).

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