Our Materials Price Index (MPI) increased 0.8% last week, with six of the ten sub-components rising. The scale of week-to-week price changes was much smaller than 3.6% average change over the last four weeks. The lower volatility reflected a comparatively quiet week in energy, steel, and nonferrous metals markets. {chart} The MPI's energy subcomponent increased 1.6% last week, a far cry from the 9.8% average weekly change in the previous four weeks. Natural gas markets were the biggest energy mover, posting a 3.6% increase following two straight weeks of double digit declines. Lumber prices jumped 3% last week, ... (full story)