Economy
July 25, 2018
IHS/PEG Index Shows Material and Labor Costs Escalating
Written by Sandy Williams
Steel prices held the top spot on the IHS Markit PEG Engineering and Construction Cost Index for July. The survey of procurement executives showed construction costs have increased for 21 consecutive months, with July’s reading up 1.4 points from June to register 68.0.
Prices for materials and equipment grew in eight of the 12 categories covered. Steel led the list followed by concrete, transformers and pumps, and compressors.
