U.S. softwood lumber producer prices fall 1.4% in September

U.S. softwood lumber producer prices fell 1.4% month over month in September, while the annual increase reached 14.2%, the Labor Department reported.

U.S. final-demand producer prices rose 1.3% from August and 6.3% from a year earlier. Inputs to new residential construction increased 2% on the month and 10.3% year over year.

Goods used in residential construction advanced 1.8% month over month and 9.7% year over year. Energy inputs climbed 13% on the month and 64.1% from a year earlier. Residential building materials excluding energy edged up 0.4% and 5.5%, respectively; the annual increase was the highest since December 2022.

Plywood producer prices gained 1.8% month over month and 12.6% year over year. For reference, hardwood lumber producer prices eased 0.5% on the month but were 1.3% higher than a year earlier.

Residential construction service inputs rose 2.2% month over month and 11.3% year over year, outpacing final-demand producer prices on both measures. Trade services increased 3% and 14%, transportation and warehousing services advanced 3.8% and 19.3%, and other services edged up 0.1% and 3.1%, respectively.