The costs of building materials and housing components expanded 0.3 percent on a monthly basis and 4.8 percent on a year-over-year basis in February, according to data from Associated Builders and Contractors. 

Only four key inputs tracked by BLS experienced monthly price declines, principally natural gas. While they dropped 18 percent in February, natural gas prices are still up by more than 66 percent over the past year.

“There is growing evidence of inflationary pressures throughout the economy, and construction materials prices are no exception,” said ABC Chief Economic Anirban Basu. “There are many reasons for this, including a somewhat more stable global economy, decisions by producers to reduce supply, general increases in asset prices and expansionary monetary policy in much of the advanced world.

“Of course, if the Trump administration is successful in implementing a proposed $1 trillion infrastructure package, dynamics change,” said Basu. “Under those circumstances, concrete and other materials prices stand to rise vigorously.”

Here is the link to ABC's full report on construction pricing.