+4.9%
CCI
+8.4%
BCI
+0.1%
BCI
0.0%
CCI
40.0 20.0
0.0 60.0
80.0 100.0
per/thousand
INDEX VALUE
ANNUAL CONSTRUCTION COST INDEX
50.0 25.0
0.0 75.0
100.0
120.0
per/thousand
INDEX VALUE
4.0 2.0
0.0 6.0
8.0 10.0% CHANGE1.4
1.2 1.0
1.6 1.8
2.0 % CHANGE
ANNUAL BUILDING COST INDEX
MONTHLY BUILDING COST % CHANGEMONTHLY CONSTRUCTION COST % CHANGE FEB.’21 APR. JUNE OCT. DEC. FEB.’22AUG. FEB.’21 APR. JUNE OCT. DEC. FEB.’22AUG.
FEB.’21 APR. JUNE OCT. DEC. FEB.’22AUG.FEB.’21 APR. JUNE OCT. DEC. FEB.’22AUG.
Inflation’s Pulse Year-to-year and monthly percent changes for ENR’s cost indexes Cost Index Review
SOURCE: ENR
INFLATION
ANNUAL ESCALATION
FOR COMMON LABOR
REACHED 1.1% IN JANUARY
WHILE SKILLED LABOR
EXPERIENCED A 2.5%
ESCALATION IN
THE SAME PERIOD.
+
1.1 %
Common
Labor Index
CONSTRUCTION BUILDING SKILLED WAGES COMMON WAGES
2021 Dec. 12481.82 1162.00 7289.50 1078.98 11055.72 1083.53 24355.78 1175.39 2022 Jan. 12555.55 1168.87 7359.09 1089.28 11055.72 1083.53 24365.52 1175.83 Feb. 12683.97 1180.82 7457.68 1103.87 11112.05 1090.40 24511.71 1182.52 Mar. 12791.43 1190.83 7565.14 1119.78 11112.05 1090.40 24511.71 1182.52 Apr. 12898.96 1200.84 7677.45 1136.40 11114.27 1091.62 24511.71 1182.52 May 13004.47 1210.66 7785.64 1152.41 11125.38 1092.34 24511.71 1182.52 June 13110.50 1220.53 7889.98 1167.86 11169.88 1096.27 24560.73 1184.44 July 13167.84 1225.87 7950.39 1176.80 11181.05 1097.10 24560.73 1184.44 Aug. 13171.07 1226.17 7952.50 1177.11 11214.59 1100.06 24585.29 1186.04 Sept. 13173.43 1226.39 7958.27 1177.97 11293.09 1107.33 24634.46 1188.53 Oct. 13174.92 1226.53 7965.04 1178.97 11304.38 1108.85 24634.46 1188.53 Nov. 13174.98 1226.53 7966.96 1179.25 11308.90 1109.30 24634.46 1188.53 Dec. 13175.00 1226.54 7971.26 1179.89 11320.21 1110.36 24634.46 1188.53 Jan. 13175.03 1226.54 7976.68 1180.69 11331.53 1111.95 24634.46 1188.53 1913 1967 1913 1967 1913 1967 1913 1967BASE YEAR
ENR’s 20-city average cost indexes, wages and materials prices. Historical data for ENR’s 20 cities can be found at ENR.com/economics Construction
Cost Index
ANNUAL
INFLATION RATE
1913=100 INDEX VALUE MONTH YEAR
CONSTRUCTION COST 13175.03 0.0% +4.9%
COMMON LABOR 24634.46 0.0% +1.1%
WAGE $/HR. 47.36 0.0% +1.1%
The Construction Cost Index’s annual escalation rose
4.9%, while the monthly component stayed flat.
+4.9%
JAN. 2023
Building
Cost Index
ANNUAL
INFLATION RATE
1913=100 INDEX VALUE MONTH YEAR
BUILDING COST 7976.68 +0.1% +8.4%
SKILLED LABOR 11331.53 +0.1% +2.5%
WAGE $/HR. 62.55 +0.1% +2.5%
The Building Cost Index was up 8.4% on an annual
basis, while the monthly component rose 0.1%.
+8.4%
JAN. 2023
Materials
Cost Index
MONTHLY
INFLATION RATE
1913=100 INDEX VALUE MONTH YEAR
MATERIALS COST 5887.55 0.0% +16.0%
CEMENT $/TON 180.40 +3.6% +19.1%
STEEL $/CWT 92.24 +0.3% +16.1%
LUMBER $/MBF 1046.55 –4.4% +10.2%
The MCI stayed flat last month, while the annual
escalation rate increased 16%.
0.0%
JAN. 2023
CONSTRUCTION ECONOMICS
0102_CE_WK1.indd 550102_CE_WK1.indd 55 12/27/22 2:01 PM12/27/22 2:01 PM 250
305
360
415
470
525
1992=100
PAVING ASPHALT
2022-2023
OSDAJN J’23A’22 MJ
2022-2023
180
192
204
216
228
260
1992=100
CONCRETE BLOCK
OSDAJN J’23A’22 MJ
200
270
340
410
480
550
1992=100
PORTLAND CEMENT
2022-2023
OSDAJN J’23A’22 MJ
400
416
432
448
464
480
1992=100
READY-MIX CONCRETE
2022-2023
OSDAJN J’23A’22 MJ
Cement prices rose 0.1% in November, after
increasing 1.5% in October, according to the
Bureau of Labor Statistics’ producer price
index. Annual escalation for the index sits at
13.2%. ENR’s 20-city average monthly price
for masonry cement rose 3.1% in January
while yearly prices increased 25.2%. All types
of asphalt paving and all types of crushed
stone experienced yearly increases. Prices for
concrete sand have risen 4.3% since December,
with an increase of 40.2% since December of
last year.
PRODUCER PRICE INDEX
CEMENT
Monthly Percent Change
SOURCE: BUREAU OF LABOR STATISTICS
ENR’s Materials Prices For January 2023
ASPHALT PAVING
CONCRETE BLOCK
PORTLAND CEMENT
READY-MIX CONCRETE
ASPHALT PRICES FELL 2.9% THIS
MONTH, WHILE YEARLY PRICES
ARE UP 26.5%.
MONTHLY PRICES R0SE 1.4%,
WHILE YEARLY PRICES
ROSE 16.2%.
MONTHLY PRICES FOR PORTLAND
CEMENT ROSE 1.8% IN JANUARY.
READY-MIX CONCRETE PRICES
DECREASED 0.6% SINCE
LAST MONTH.
+
1.8 %
–
2.9 %
+
1.4 %
–
0.6 %
1992=100
1992=100
1992=100
1992=100
SOURCE: ENR
4.0 3.0
5.0 2.0
1.0 -1.0
-2.0
-3.0
-4.0
-6.0
-5.0
0 6.0
PERCENTAGE
+0.1%
JJ’22 MMN ’22S
20-CITY AVERAGE
ASPHALT PAVING
PG 58 TON 595.46 –2.9 +26.5
Cutback, MC800 TON 409.11 +0.1 +4.7
Emulsion, RAPID SET TON 375.26 +0.1 +2.7
Emulsion, SLOW SET TON 401.32 +0.2 +5.6
PORTLAND CEMENT
Type one TON 183.65 +1.8 +19.5
MASONRY CEMENT
70-lb bag TON 14.01 +3.1 +25.2
CRUSHED STONE
Base course TON 18.50 +3.1 +24.6
Concrete course TON 18.94 +3.1 +27.4
Asphalt course TON 19.64 +1.3 +23.9
SAND
Concrete TON 19.12 +4.3 +40.2
Masonry TON 18.80 +2.5 +30.2
READY-MIX CONCRETE
3,000 psi CY 142.08 –0.6 +5.2
4,000 psi CY 152.35 –0.6 +4.9
5,000 psi CY 181.99 –1.0 –0.7
CONCRETE BLOCK
Normal weight: 8” x 8” x 16” C 208.55 +1.4 +16.2
Lightweight: 8” x 8” x 16” C 183.48 +0.9 +8.9
12” x 8” x 16” C 288.02 +1.0 +11.5
ITEM UNIT $PRICE %MONTH %YEAR
CONSTRUCTION ECONOMICS
0102_CE_WK1.indd 560102_CE_WK1.indd 56 12/27/22 2:01 PM12/27/22 2:01 PM Asphalt, Cement, Aggregate, Concrete, Block For January 2023 City prices reflect quotes from single sources and can be volatile. They are not meant to be the prevailing price for a city. Data are a mix of list and transaction prices and may include ENR estimates. Do not compare prices between locations. Use city information to analyze national trends.
ITEM UNIT ATLANTA BALTIMORE BIRMINGHAM BOSTON CHICAGO CINCINNATI CLEVELAND DALLAS DENVER DETROIT
ASPHALT PAVING
PG 58 TON 547.09 –730 540.53 635.70 589.22 –610.5 –625 +583.40 612.00 –615.5 CUTBACK, MC800 TON 398.8 –– 372 422.61 415.46 –– 378 412.39 491.34 388 EMULSION, RAPID SET TON 362.56 –– 355.45 402.00 382.77 –– 369 382.61 362.42 355.5 EMULSION, SLOW SET TON 380.19 –– 361.63 419.32 498.50 –– 388 400.75 489.93 411
PORTLAND CEMENT
TYPE ONE TON +176.50 –182.30 +163.84 170.00 160.52 +180.75 182.91 171.26 +189.31 189.50
MASONRY CEMENT
70-LB BAG TON +14.62 +16.28 +11.23 12.76 12.48 +15.85 +13.28 +130.5 +13.09 +15.28
CRUSHED STONE
BASE COURSE TON 16.95 +15.10 12.11 18.54 17.98 +14.80 +15.50 +15.62 +15.80 +16.00 CONCRETE COURSE TON 15.76 14.15 12.70 19.17 18.02 –13.10 14.60 +15.00 +17.74 –13.40 ASPHALT COURSE TON 18.12 –14.20 15.63 19.85 19.40 –13.80 13.95 +17.57 +19.00 +14.00 SAND
CONCRETE TON 15.78 16.50 12.86 +15.30 14.64 15.45 +16.00 +18.96 +17.33 +16.20 MASONRY TON 16.64 17.40 14.07 16.59 +14.12 16.80 +17.20 +19.08 +17.54 +17.00
READY-MIX CONCRETE
3,000 PSI CY 139.40 +134.00 128.03 152.26 –158.52 130.15 –127.20 142.61 135.54 –132.10 4,000 PSI CY 148.19 +144.50 139.57 166.05 –170.69 141.60 –138.1 151.20 144.36 –136.55 5,000 PSI CY 188.72 –169.60 168.94 195.73 –207.26 164.33 –168.3 173.97 198.08 –170.35
CONCRETE BLOCK
NORMAL WEIGHT: 8” x 8” x 16” C 196.35 –233.00 176.62 +225.55 185.72 +203 –253 205.00 202.33 +193 LIGHTWEIGHT: 8” x 8” x 16” C 187.61 –176.00 155.39 +197.27 178.96 +167 +182 180.00 186.65 +177 12” x 8” x 16” C 275.85 +263.00 248.77 –273.09 276.30 +283 +403 270.00 257.90 +253 ITEM UNIT KANSAS CITY LOS ANGELES MINNEAPOLIS NEW ORLEANS NEW YORK PHILADELPHIA PITTSBURGH ST. LOUIS SAN FRANCISCO SEATTLE
ASPHALT PAVING
PG 58 TON –664 430 –632 549.82 521.36 536.20 –651 –645 –– +595.45 CUTBACK, MC800 TON 342 450 378 405.40 390.82 410.05 377.04 388.5 502.70 +440.82 EMULSION, RAPID SET TON 322 425 328 383.96 378.94 379.81 314.2 378 486.2 +386.33 EMULSION, SLOW SET TON 338 425 312.7 390.42 387.75 400.48 314.2 404 486.2 +415.69
PORTLAND CEMENT
TYPE ONE TON +184.50 242.69 192.80 +182.55 +276.3 +210.32 187.30 –185.20 170 182.25
MASONRY CEMENT
70-LB BAG TON +14.68 6.38 +16.10 +15.00 12.57 +12.65 +16.20 +17.28 +19.77 11.70
CRUSHED STONE
BASE COURSE TON +15.80 38.40 +16.50 –14.00 15.95 16.76 +16.20 +15.00 49.00 15.00 CONCRETE COURSE TON +15.20 44 14.05 +17.00 +20.50 +19.75 –13.90 13.80 51.00 15.95 ASPHALT COURSE TON +15.80 44 14.10 +18.00 +20.85 +21.20 –13.50 –13.95 51.00 14.84 SAND
CONCRETE TON +15.60 44 +15.55 +9.00 +18.50 –14.15 +15.90 14.80 49.50 16.28 MASONRY TON +16.95 44.80 16.60 +16.82 16.46 16.08 +16.20 15.90 33.88 15.90
READY-MIX CONCRETE
3,000 PSI CY –130.54 180.44 +133.12 138.20 –145.12 150.31 –124.60 131.75 175 152.75 4,000 PSI CY –138.22 188.28 137.30 147.53 –154.47 167.79 –133.40 140.20 182 176.92 5,000 PSI CY –167.90 204.62 168.10 179.00 –182.66 199.90 –166.40 171 188 206.85
CONCRETE BLOCK
NORMAL WEIGHT: 8” x 8” x 16” C –223 188 +163 192.41 207.18 +212.27 +213 +222 247 210.65 LIGHTWEIGHT: 8” x 8” x 16” C 178 178 +160 173.27 180.45 +185.56 180 +181 –259 185.09 12” x 8” x 16” C +293 398 188 268.35 279.70 +283.81 +303 +243 400 267.58 + OR – DENOTES PRICE HAS RISEN OR FALLEN SINCE PREVIOUS REPORT. QUOTES ARE DELIVERED PRICES FOR PORTLAND AND MASONRY CEMENT, CONCRETE BLOCK AND READY-MIX CONCRETE. PRICES FOR CRUSHED STONE AND SAND ARE FOB PLANT. SOME PRICES MAY INCLUDE TAXES OR DISCOUNTS. FURTHER PRODUCT SPECIFICATIONS INCLUDE RAPID-SET EMULSION, CRS2; SLOW-SET EMULSION, CSS1H; BASE COURSE, 1½’’ DOWN TO DUST, UNWASHED; CONCRETE COURSE, 1½’’ THROUGH #4, WASHED; ASPHALT COURSE, ½’’ THROUGH #4, UNWASHED; CONCRETE SAND, 2NS MEDIUM CLEAN; MASONRY SAND, 2NS FINE CLEAN; CONCRETE BLOCK, 2 CORE. QUANTITIES ARE GENERALLY TRUCKLOADS.
CONSTRUCTION ECONOMICS
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