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Supply chain issues have been exacerbated by the Ukrainian conflict, making it more difficult for people to obtain materials. +0.6%(p) in Jan 2023, Construction Archives. The .gov means it's official. Download entire table Bureau of Labor Statistics Producer Price Indexonly specific PPI building indices reflect final cost of building. While reading the statistics above, I fear that some contractors tendencies will be to (1) - doubt the negative impact when it comes to their company; (2) - doubt the accuracy altogether; (3) - stop reading this blog and go into denial by turning their attention to more pressing immediate concerns. . The Associated General Contractors | Hi Ed, thank you for Construction Analytics Construction Inflation Index Tables and Charts. Read the report for the trend in building costs. The Consumer Price Index for Residential Inflation is expected to rise by 3.8% over the next three years. There are a number of ways to calculate construction inflation, and the most appropriate method will depend on the specific project. The link provided points to the description of the index, but not the index itself. A construction cost index can be a variety of things. From 2011 to 2020, data is updated from 2015 to 2023, and forecast information for 2021 to 2023 is provided in the tables below. Prior to 2022, the construction data in this country had never been as extreme as it is now. Construction Analytics uses forward forecast values as their primary method of estimating forward forecast values whenever they are not available. RS MEANS Key material cost updates quarterly. Index Dec 2003=100, Monthly, Not Seasonally Adjusted Dec 2003 to Jan 2023 (Feb 16) Index Dec 2003=100, Monthly, Not Seasonally Adjusted Jan 2008 to Jan 2023 (Feb 16) Previous versions of this data are available. +0.2%(p) in Jan 2023, Stage 2 intermediate demand How do you expect the Infrastructure Investment and Jobs Act to impact your firms backlog in the next 2-3 years? +0.2%(p) in Jan 2023, Other -1.5%(p) in Jan 2023, Lumber Construction industry; IT and internet industry; International trade; Manufacturing and production industry . Even if there are multiple methods for calculating construction inflation, the most important point to remember is that construction inflation typically outstrips general inflation. Nonresidential inflation, after hitting 5% in both 2018 and 2019, and after holding above 4% for the six years 2014-2019, is forecast to increase only 2.5% in 2020, but then 3.8% in 2021 and hold near that level the next few years. No data table is available, but a plot of the VCCI is available on the website. Construction Cost Indices come in many types: Final cost by specific building type; Final cost composite of buildings but still all within one major building sector; Final cost but across several major building sectors (ex., residential and nonresidential buildings); Input prices to subcontractors; Producer prices and Select market basket indices. The building and construction cost indexes for ENRs individual cities use the same components and weighting as those for the 20-city national indexes. <>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 16 0 R 17 0 R 18 0 R] /MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>>