PPI material inputs as of SEP’26

Nonresidential Bldgs UP 2.08%, Up 8 of 9 months in 2026. YTD’26 vs YTD’25 = 7.02%.

Residential Bldgs UP 1.97%, UP 8/9 months in ’26. YTD’26 vs YTD’25 = 6.25%

Highway UP 2.05%, Up 8/9 months in 2026. YTD’26 vs YTD’25 = 6.93%

Industrial Structures UP 1.40%, Up 8/9 months in 2026. YTD’26 vs YTD’25 = 8.31%.

All 4 categories above revised up in each of the previous 4 months

ALL 4 = largest monthly increase since March of 2022.

More to follow.

Up to this point, all the above INPUTS reference only materials. There is labor to consider as part of inflation. Wages will not increase 12%. However, over the past year jobs increased by 1.5% and the volume of work produced fell 8.5%. So effectively, that means the cost of labor increased 10%, without even taking a wage increase into account.