IHS reports construction costs increase

摘要

U.S. construction costs increased for the 31st consecutive month in May on increases in both labor and materials prices, according to IHS Markit and the Procurement Executives Group. The headline IHS Markit PEG Engineering and Construction Cost Index registered 63.8 this month, a slight uptick from April's reading of 58.2. The materials and equipment index rose to 65.4 in May while the subcontractor labor index also increased, hitting 60.1. Both current and expected prices for materials and labor remain firmly in positive territory, indicating continued price increases.