Linesight, a global construction consultancy firm, expects prices for construction commodities to decline in 2022 after hitting record highs last year. Much of the inflationary pressure on prices was due to shortages prompted by pandemic-related supply-chain issues, increased global demand, labor disruptions and extreme weather. With the passage of the U.S. infrastructure bill, however, total construction spending is expected to jump to $1.701 trillion in 2022, a 4.5 percent increase over 2021. The findings are part of Linesight’s fourth-quarter Commodity Report and price forecast, based on interviews with more than 160 industry experts across the globe.
In 2021, prices for essential construction materials like copper, lumber, steel and cement hit record highs amid shortages. These higher costs and delays for delivery blunted construction output to $1.626 trillion, compared to previous projections of $1.645 trillion.
While the U.S. construction sector still faces man
