PB's Highway Construction Cost Index (PB HCCI) increased approximately 0.8 index points, or 0.5%, in the month of November 2014 (compared to October 2014). In the month, asphalt and concrete increased 1.7% and 1.2%, respectively, and were the primary drivers for the monthly increase. All other components saw a change of less than 1%. Year over year, the index has increased 4.9% since November 2013. PB HCCI comprises the following six cost components: construction labor, construction equipment, steel, asphalt and asphalt binder, aggregate and concrete. The resulting index represents average highway-construction costs for the U.S. as a whole. Cost inflation for specific regions, capital programs and projects will vary from this index depending on project types and work mix, as well as the regional or local construction market (including local contractor and material-supplier markets) and contractor margins (which are lower during construction downturns).
展开▼
