According to a recent article, the IHS Markit and the Procurement Executives Group said that construction costs rose again in January on strength in labor and materials costs.
“The six-month headline expectations index moved up from 68.9 in December to 70.0 in January, recording another month of increasing prices. The materials/equipment index stayed positive, at 72.6, slightly lower than the 73.3 recorded in December. Subcontractor labor price expectations were 64.1 in January, higher than the 58.7 recorded in December.”
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