Homebuyers could feel the pinch in an already-tight housing market as rising construction costs may lead to pricier homes after the National Federation of Independent Business reported that construction prices rose in February.The Consumer Price Index came in higher than expected at 3.2 percent on Tuesday, still higher than the Federal Reserve target of 2 percent.
'While inflation pressures have eased since peaking in 2021, small business owners are still managing the elevated costs of higher prices and interest rates,' Bill Dunkelberg, NFIB's chief economist, said in a statement.
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