Construction Cost Indices

Construction Cost Indices are numerical indicators that reflect changes in the costs of building materials, labor, and other expenses associated with construction over time. They help measure inflation or deflation in the construction sector, allowing stakeholders, such as builders, investors, and government agencies, to compare current costs to past costs. By tracking these indices, they can make informed decisions about budgeting, pricing, and investment in construction projects, ensuring that financial plans account for changing market conditions. Essentially, they serve as a benchmark for understanding trends in construction costs.