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ACBM staff Engineering and construction costs maintained their upward movement in May, driven at least in part by rising costs to ship materials from key markets to the U.S. The latest IHS Markit PEG Engineering and Construction Cost Index (ECCI), produced jointly by IHS Markit and the Procurement Executives Group (PEG), shows costs rose for the seventh straight month, with survey respondents reporting widespread price increases across all index components. As a result, the ECCI moved up 6.3 points to a 78.8 reading in May. The materials and equipment sub-index saw its sixth consecut...

IHS Markit Engineering and construction costs increased for the fourth consecutive month in February, according to IHS Markit and the Procurement Executives Group (PEG). Survey participants in February’s headline IHS Markit PEG Engineering and Construction Cost Index witnessed price escalations for all categories under the materials and equipment sub-index for the second month in a row, after having reported increases in January for the first time since July 2018. According to February's Index: Copper prices continued to increase, recording the eighth consecutive month of rising pri...