Construction Material Costs Increase 7.4 Percent, as Contractors Continue to be Squeezed by Tariffs and Rising Fuel Prices

The cost of many products used in construction climbed 7.4 percent over the past year due to double digit increases in commonly-used construction materials, according to an analysis by the Associated General Contractors of America of new Labor Department data. Association officials noted that the cost increases come as many construction firms are already grappling with shortages of skilled craftsmen essential for projects but have limited ability to increase prices for their services.

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