ENR’s 20-city average cost indexes, wages and material prices ...

CONSTRUCTION ECONOMICS

ENR's 20-city average cost indexes, wages and material prices. Historical data for ENR's 20 cities can be found at economics

8.0 Construction

Cost Index +

%

ANNUAL INFLATION RATE

JAN. 2022

1913=100

INDEX VALUE

CONSTRUCTION COST 12555.55

COMMON LABOR

24365.52

WAGE $/HR.

46.82

MONTH +0.6% 0.0% 0.0%

YEAR +8.0% +1.4% +1.4%

13.9 Building

Cost Index +

%

ANNUAL INFLATION RATE

JAN. 2022

1913=100 BUILDING COST SKILLED LABOR WAGE $/HR.

INDEX VALUE 7359.09

11055.72 60.99

MONTH +1.0%

0.0% 0.0%

YEAR +13.9%

+2.6% +2.6%

Materials Cost Index

MONTHLY INFLATION RATE

+2.2%

JAN. 2022

1913=100 MATERIALS COST CEMENT $/TON STEEL $/CWT LUMBER $/MBF

INDEX VALUE 5073.87 151.44 79.47 949.70

MONTH +2.2% ?0.5% +3.8% ?0.3%

YEAR +33.7% +3.1% +41.2% +26.9%

The Construction Cost Index's annual escalation rose The Building Cost Index was up 13.9% on an annual The MCI rose 2.2% since last month, while the

8%, while the monthly component rose 0.6%.

basis, while the monthly component increased 1%. annual escalation rate increased 33.7%.

Inflation's Pulse Year-to-year and monthly percent changes for ENR's cost indexes

INDEX VALUE

35.0 per/thousand

ANNUAL CONSTRUCTION COST INDEX

30.0

25.0

20.0

15.0

10.0

JAN.'21

MAR.

MAY

JULY

+8.0% CCI

30.0 per/thousand

ANNUAL BUILDING COST INDEX

25.0

INDEX VALUE

20.0

15.0

10.0

5.0

SEPT.

NOV. JAN.'22

JAN.'21

MAR.

MAY

JULY

+13.9% BCI

SEPT.

NOV. JAN.'22

1.5

MONTHLY CONSTRUCTION COST % CHANGE

1.4

+0.6% CCI

7.0

MONTHLY BUILDING COST % CHANGE

5.6

+1.0% BCI

% CHANGE

% CHANGE

1.3

4.2

1.2

2.8

1.1

1.4

0

0.0

JAN.'21

MAR.

MAY

JULY

SEPT.

NOV. JAN.'22

JAN.'21

MAR.

MAY

JULY

SEPT.

NOV. JAN.'22

SOURCE: ENR

Cost Index Review

BASE YEAR

CONSTRUCTION 19131967

BUILDING 19131967

2020 2021

2022

Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.

Jan.

11625.95 11627.94 11698.80 11749.75 11849.31 11989.91 12112.05 12237.69 12463.13 12464.55 12464.94 12467.32 12481.82

12555.55

1082.33 1082.51 1089.11 1093.85 1103.12 1116.21 1127.58 1139.28 1160.26 1160.40 1160.43 1160.65 1162.00

1168.87

6445.14 6459.83 6493.19 6545.22 6612.50 6754.51 6876.96 7006.95 7201.88 7214.29 7244.90 7255.67 7289.50

7359.09

954.00 956.17 961.11 968.81 978.77 999.79 1017.91 1037.15 1066.01 1067.84 1072.38 1073.97 1078.98

1089.28

SKILLED WAGES 19131967

10743.67 10775.90 10797.45 10800.69 10805.01 10805.01 10815.82 10826.64 10848.29 10880.83 10978.76 11000.72 11055.72

1053.78 1057.04 1058.78 1059.05 1059.49 1059.49 1060.41 1061.48 1063.55 1066.67 1075.78 1078.06 1083.53

11055.72 1083.53

COMMON WAGES 19131967

24037.06 24037.06 24157.25 24157.25 24253.88 24253.88 24256.31 24256.31 24353.34 24355.78 24355.78 24355.78 24355.78

1160.17 1160.17 1165.88 1165.88 1170.25 1170.25 1170.40 1170.40 1175.33 1175.39 1175.39 1175.39 1175.39

24365.52 1175.83

INFLATION

+1.3%

Common Labor Index

ANNUAL ESCALATION FOR COMMON LABOR REACHED

1.4% IN JANUARY, WHILE SKILLED LABOR EXPERIENCED A 2.6%

ESCALATION IN THE SAME PERIOD.

CONSTRUCTION ECONOMICS

Cement prices stayed flat in November following a 0.1% increase in October, according to the Bureau of Labor Statistics' producer price index. Annual escalation for the index sits at 4.8%. ENR's 20-city average monthly price for masonry cement increased 1.5% in January, with a yearly rise of 3.6%. All types of asphalt paving experienced increases since January 2021, while all types of crushed stone had both monthly and yearly boosts. Prices for masonry sand rose 2.2% since December, with an increase of 15.8% since January of last year.

PERCENTAGE

PRODUCER PRICE INDEX

CEMENT Monthly Percent Change

3.0

2.5

2.0

0.0%

1.5 1.0

0.5

0 -0.5

-1.0

-1.5

-2.0 -2.5

-3.0 J'21 M M J S N'21

SOURCE: BUREAU OF LABOR STATISTICS

ENR's Materials Prices For January 2022

CONCRETE BLOCK

0.0%

READY-MIX CONCRETE

0 9%

+.

MONTHLY PRICES STAYED FLAT, WHILE YEARLY PRICES CORNOCSREET1E6.B5L%O.CK

200

2021-2022

191

182

173

164

155 A'21 M J J A S O N D J'22

11999922==110000

READY-MIX CONCRETE PRICES INCREASED 0.9% SINCE READLYA-SMTIXMOCNOTNHC.RETE

420

2021-2022

412

404

396

388

380 A'21 M J J A S O N D J'22

1992=100 1992=100

ASPHALT PAVING

PORTLAND CEMENT

1 5 1 5 %

%

+.

+.

ASPHALT PRICES ROSE 1.5 THIS MONTH, WHILE YEARLY PRICES

PAVRIENUGPA1S7P.9H%AL. T

300

2021-2022

290

280

270

260

250 A'21 M J J A S O N D J'22

1992=100 1992=100

MONTHLY PRICES FOR PORTLAND CEMENT ROSE 1.5% IN JANUARY.

PORTLAND CEMENT

225

2021-2022

220

215

210

205

200 A'21 M J J A S O N D J'22

1992=100 1992=100

20-CITY AVERAGE

ITEM

UNIT

ASPHALT PAVING

PG 58

TON

Cutback, MC800

TON

Emulsion, RAPID SET

TON

Emulsion, SLOW SET

TON

$PRICE

470.66 390.66 365.26 379.93

%MONTH %YEAR

+1.5

?0.1 ?0.3

0.0

+17.9 +5.3 +2.7 +3.7

PORTLAND CEMENT

Type one

TON 153.72 +1.5 +3.6

MASONRY CEMENT

70-lb bag

TON 11.19 +1.5 +3.1

CRUSHED STONE

Base course

TON

Concrete course

TON

Asphalt course

TON

SAND

Concrete

TON

Masonry

TON

READY-MIX CONCRETE

3,000 psi

CY

4,000 psi

CY

5,000 psi

CY

CONCRETE BLOCK

Normal weight: 8" x 8" x 16" C

Lightweight: 8" x 8" x 16"

C

12" x 8" x 16"

C

14.85 14.87 15.85

13.63 14.44

135.11 145.28 183.26

179.48 168.45 258.30

+2.1 +9.7 +8.0

+14.4 +2.2

+0.9 +0.2 +0.1

+0.0 +0.1 +1.2

+18.1 +26.8 +14.7

+29.7 +15.8

+8.5 +3.6 ?3.1

+16.5 +1.7

+41.0

SOURCE: ENR

CONSTRUCTION ECONOMICS

Asphalt, Cement, Aggregate, Concrete, Block For January 2022

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

ASPHALT PAVING

PG 58

TON

CUTBACK, MC800

TON

EMULSION, RAPID SET

TON

EMULSION, SLOW SET

TON

PORTLAND CEMENT

TYPE ONE

TON

MASONRY CEMENT

70-LB BAG

TON

CRUSHED STONE

BASE COURSE

TON

CONCRETE COURSE

TON

ASPHALT COURSE

TON

SAND

CONCRETE

TON

MASONRY

TON

READY-MIX CONCRETE

3,000 PSI

CY

4,000 PSI

CY

5,000 PSI

CY

CONCRETE BLOCK

NORMAL WEIGHT: 8" x 8" x 16" C

LIGHTWEIGHT: 8" x 8" x 16"

C

12" x 8" x 16"

C

ATLANTA

+450.26 398.8 362.56 380.19

+154.88

+11.25

+11.70 +12.05 +13.62

?10.44 +12.97

130.93 144.08 182.42

185.87 170.65 225.53

BALTIMORE BIRMINGHAM

+538 ?? ?? ??

+437.51 +386.33 ?340.20 ?369.62

+158.10

140.11

+12.27

10.70

12.25 14.15 14.35

10.69 10.90 12.78

14.60 16.50

+9.58 11.69

+128.50 +140.50 ?172.50

121.67 135.22 160.51

?189

159.60

?152

168.93

?315

192.42

BOSTON

?475.48 +437.91 +396.55 +428.83

162.28

11.44

13.05 12.22 14.10

12.33 +13.82

142.68 165.43 202.50

+180.86 177.73

+226.79

CHICAGO

CINCINNATI CLEVELAND

459.37 410.60 390.48 396.55

+480 ?? ?? ??

+484 378 369 388

153.00 ?140.60

147.2

12.00

+11.25

?10.28

12.98 12.63 12.24

12.75 11.45

??

12.5 8.29 10.96

+10.69 12.51

10.5 14.25

10.70 14.5

+139.10 ?140.67 +187.33

129.5 136 ?174

+130.60 ?136.46

177.3

+178.93

?165

?204

?168.45

145

+178

+238.17

?322

343

DALLAS

468.22 391.84 379.09 412.40

+152.97

+11.25

+12.79 +12.82 +14.65

+11.78 +14.02

128.35 149.22 188.65

193.54 169.09 240.25

DENVER

+456.57 ?384.91 ?363.76 ?386.29

+162.50

11.94

12 13.12 13.97

10.06 12.43

146.74 152.10 205.71

175.28 183.5 202.1

DETROIT

488 388 355.5 411

+144.67

+11.48

+10.25 +8.6

+10.50

+11.25 +14.10

+129.96 140.5

?178.10

+178.00 149 234

ITEM

UNIT KANSAS CITY LOS ANGELES MINNEAPOLIS NEW ORLEANS NEW YORK PHILADELPHIA PITTSBURGH

ASPHALT PAVING PG 58

TON

+490

370

+503 442.38

454.6 450.27

+530

CUTBACK, MC800

TON

EMULSION, RAPID SET

TON

EMULSION, SLOW SET

TON

PORTLAND CEMENT

TYPE ONE

TON

MASONRY CEMENT

70-LB BAG

TON

CRUSHED STONE

BASE COURSE

TON

CONCRETE COURSE

TON

ASPHALT COURSE

TON

SAND

CONCRETE

TON

MASONRY

TON

READY-MIX CONCRETE

3,000 PSI

CY

4,000 PSI

CY

5,000 PSI

CY

CONCRETE BLOCK

NORMAL WEIGHT: 8" x 8" x 16" C

LIGHTWEIGHT: 8" x 8" x 16"

C

12" x 8" x 16"

C

342 322 338

130.40

9.88

11.50 16.4 16.4

10.45 14.40

128.1 139.10 182.50

192.00 ?155 ?330

380 350 325

227.54

6.3

34 39.97 39.97

29.15 10.56

158.78 164.25 178.54

153 142 343

378 328 312.7

+138.90

+11.35

11.25 8.88 8.15

11.00 13.50

129.44 +137.60 ?179.00

193 ?119 181

379.02 365.45 372.53

390.23 +368.97

370.45

387.16 371.55 386.30

142.75 150.10 +159.82

+11.18

10.95 +11.36

11.44 11.08 +14.45

13.62 12.37 14.89

13.41 12.92 15.70

+12.18 +13.56

11.26 12.93

11.00 13.86

131.76 137.3 188.23

+128.80 +145.61 +186.46

135.12 141.33 188.78

174.15 169.33 212.47

+169.98 +180.52 +246.02

+170.05 +175.81 +240.30

377.04 314.2 314.2

+152.30

+11.70

12.2 10.38 9.52

10.60 13.00

+133.60 137.00

+180.40

+196 +170

225

ST. LOUIS SAN FRANCISCO SEATTLE

+496 388.5

378 404

?? 468.86 400 433.52 425 394.30 425 417.61

+148.72

155 155.71

+13.20

12.97

11.24

10.90 +8.40

9

+44.75 +48.65 +42.65

+12.88 +12.16 +13.25

+10.8 13.15

+40.75 +32.93

+13.39 +14.02

+131.78 140.90 180.30

165 131.83 172 150.26 177 194.94

?190

217 178.39

168

257 170.02

?218

400 229.95

+ 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, 1?'' DOWN TO DUST, UNWASHED; CONCRETE COURSE, 1?'' THROUGH #4, WASHED; ASPHALT COURSE, ?'' THROUGH #4, UNWASHED; CONCRETE SAND, 2NS MEDIUM CLEAN; MASONRY SAND, 2NS FINE CLEAN; CONCRETE BLOCK, 2 CORE. QUANTITIES ARE GENERALLY TRUCKLOADS.

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