VIEW MORE ARTICLES FROM THIRD QUARTERLY COST REPORT
|Summary: Inflation Batters Building Costs|
|Equipment: Strong demand hits prices|
|Insurance: Workers comp rates climb|
|Labor: Tackling the cost of drug use|
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Preliminary data indicate that inflation has not yet peaked, with several indexes already breaching the double-digit barrier. ENRs Building Cost Index rose from a 9.0% annual rate in July to 10.4% in September. Marshall & Swift predicts inflation tracked by its index will climb from 10.4% in July to 11.5% by October, while Boeckh sees its index going from 6.2% to 8.5% during the same period. The annual rate of increase for the SmithGroups index went from 7.6% in July to 8.3% in August.