The price of materials used for highway and street construction rose 11.8% in March 2006 compared with March 2005, according to a recent analysis of Bureau of Labor Statistics data by the ARTBA Economics and Research Team.
The rate of inflation during the same time period, as measured by the consumer price index, rose 3.4%. The average price level faced by highway and street contractors for materials was up 12.8% in the first three months of the year, compared with first quarter 2005. Compared with first quarter 2004, the average price level was up 25.3%.
The cost of asphalt paving and block manufacturing increased 19% in March 2006, cement prices were up 14.9% and ready-mix concrete prices rose 11.9%, compared with March 2005. The full report is online at www.artba.org.