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Price Trends for Federal-Aid Highway Construction


Fourth Quarter 1998


Three-Quarter Moving Index Price Trend

1987 Base

Three-Quarter Moving Index Price Trend for Fourth Quarter 1998. Graph of Composite Index versus Year from 1990 - 1998. The data can be found in the Price Trends for Federal-Aid Highway Construction - Three-Quarter Moving Index table below

The three-quarter moving composite price index is the weighted average of the indices for three consecutive quarters.

The Composite Bid Price Index is composed of six indicator items: common excavation, to indicate the price trend for all roadway excavation; portland cement concrete pavement and bituminous concrete pavement, to indicate the price trend for all surfacing types; and reinforcing steel, structural steel, and structural concrete, to indicate the price trend for structures. Descriptions of the six indicator items can be found in Federal-aid Policy Guide G-6011-10.

Development of the index is discussed in some detail in PUBLIC ROADS magazines, volume 31, No. 10, October 1961; volume 36, No. 4, October 1970; and volume 45, No. 1, June 1981.

Average contract prices shown herein are based on actual bids and include costs of materials, labor, equipment, overhead and profit.

Disclaimer: The base for each State index is its own particular "market basket" of quantities and costs during the base period. The composite index for each State measures the change in that State's index since base year 1987. (in 1987 each State's index equaled 100). These indices are not to be used for State comparisons.

Office of Infrastructure
Office of Program Administration
(202) 366-4636
Publication Number FHWA-IF-99-001

For Official Distribution

Price Trends for Federal-Aid Highway Construction

1987 Base
Year Common excavation Surfacing Structures Composite index
Average contract price (cu. yd.) Index Portland cement concrete2 Bituminous concrete Surfacing index Reinforcing steel Structural steel Structural concrete Structures index
Average contract price (sq. yd.) Index Average contract price (ton) Index Average contract price (lb.) Index Average contract price (lb.) Index Average contract price (cu. yd.) Index
1972 .72 29.7 6.42 43.6 9.23 37.5 39.5 .181 41.1 .342 38.6 100.17 41.6 40.7 38.6
1973 .80 33.0 7.00 47.5 10.02 40.7 42.9 .207 47.0 .372 42.0 111.81 46.4 45.4 42.5
1974 1.00 41.2 8.88 60.3 14.74 59.8 60.0 .339 76.9 .551 62.3 136.80 56.8 61.7 57.9
1975 1.03 42.5 8.88 60.3 15.13 61.4 61.0 .297 67.4 .554 62.6 138.76 57.6 60.6 58.1
1976 1.03 42.5 8.92 60.6 14.83 60.2 60.3 .258 58.5 .484 54.7 139.59 58.0 57.2 56.3
1977 1.16 47.8 9.95 67.5 15.47 62.8 64.3 .272 61.7 .520 58.8 143.51 59.6 59.7 59.8
1978 1.54 63.5 11.90 80.8 17.16 69.6 73.3 .316 71.7 .603 68.1 172.41 71.6 70.7 70.7
1979 1.62 66.8 14.02 95.2 21.21 86.1 89.0 .421 95.5 .759 85.8 211.33 87.8 88.6 85.5
1980 1.83 75.5 14.92 101.3 25.29 102.6 102.2 .483 109.6 .941 106.3 226.68 94.1 100.0 97.2
1981 1.76 72.6 14.17 96.2 25.63 104.0 101.4 .438 99.4 .790 89.3 231.64 96.2 94.9 94.2
1982 1.59 65.6 13.03 88.5 24.33 98.7 95.3 .407 92.4 .762 86.1 219.63 91.2 90.0 88.5
1983 1.74 71.8 12.69 86.1 24.27 98.5 94.4 .398 90.3 .708 80.0 213.85 88.8 86.7 87.6
1984 1.90 78.4 13.64 92.6 26.52 107.6 102.7 .409 92.8 .709 80.1 218.02 90.5 88.2 92.6
1985 2.24 92.4 14.31 97.1 28.52 115.7 109.6 .444 100.7 .796 89.9 243.60 101.2 98.1 102.0
1986 2.28 94.0 15.63 106.1 26.48 107.4 107.0 .442 100.3 .850 96.0 236.37 98.2 98.0 101.1
1987 2.42 100.0 14.80 100.0 24.65 100.0 100.0 .441 100.0 .885 100.0 240.81 100.0 100.0 100.0
1988 2.72 112.2 14.33 97.3 24.91 101.1 99.8 .494 112.1 .924 104.4 274.12 113.8 111.0 106.6
1989 2.40 99.0 15.17 103.0 24.08 97.7 99.4 .556 126.2 1.018 115.0 283.40 117.7 118.4 107.7
1990 2.38 98.1 15.91 108.0 24.52 99.5 102.3 .529 120.0 1.010 114.1 286.18 118.8 117.8 108.5
1991 2.32 95.5 16.58 112.5 25.52 103.6 106.5 .505 114.6 1.030 116.4 264.98 110.0 112.5 107.5
1992 2.20 90.8 17.80 120.8 24.66 100.1 106.9 .520 117.9 .916 103.5 259.61 107.8 108.4 105.1
1993 2.50 103.2 18.81 127.7 26.26 106.6 113.5 .467 106.0 .861 97.3 261.89 108.7 105.3 108.3
1994 2.75 113.2 20.88 141.7 27.80 112.8 122.3 .515 116.8 .847 95.7 271.94 112.9 109.0 115.1
1995: First quarter 2.74 113.1 23.25 157.8 26.99 109.5 125.4 .545 123.6 .894 101.0 306.80 127.4 119.8 121.1
Second quarter 2.59 106.8 22.00 149.3 28.80 116.9 127.5 .558 126.6 .936 105.7 301.61 125.2 120.3 121.2
Third quarter 2.45 100.9 21.18 143.8 31.40 127.4 132.8 .522 118.5 .895 101.1 290.29 120.5 115.1 120.2
Fourth quarter 3.17 130.8 21.42 145.4 28.08 113.9 124.3 .551 125.1 .961 108.6 312.30 129.7 123.3 124.8
Annual 2.73 112.8 22.07 149.8 28.87 117.1 127.9 .542 122.9 .922 104.2 302.66 125.7 119.5 121.9
1996: First quarter 2.92 120.6 25.41 172.5 26.45 107.3 128.7 .482 109.5 1.132 127.9 314.61 130.6 126.3 126.4
Second quarter 2.95 121.7 17.15 116.4 27.46 111.4 113.1 .545 123.6 1.020 115.2 297.48 123.5 121.3 118.0
Third quarter 3.27 134.7 20.44 138.7 26.79 108.7 118.6 .592 134.2 1.092 123.3 300.85 124.9 126.1 124.3
Fourth quarter 2.72 112.3 20.37 138.3 29.88 121.2 126.8 .499 113.3 1.075 121.5 271.82 112.9 115.2 119.5
Annual 2.92 120.6 19.64 133.3 27.50 111.6 118.7 .535 121.5 1.068 120.7 293.85 122.0 121.6 120.2
1997: First quarter 2.70 111.3 22.42 152.2 31.63 128.3 136.2 .581 131.8 1.167 131.8 347.20 144.2 138.8 133.6
Second quarter 3.25 133.9 23.40 158.8 29.17 118.4 131.6 .586 133.0 1.100 124.3 309.27 128.4 128.1 130.4
Third quarter 2.88 118.9 24.12 163.7 26.34 106.9 125.5 .535 121.4 1.055 119.2 290.45 120.6 120.4 122.3
Fourth quarter 2.49 102.7 28.35 192.5 31.14 126.4 148.1 .549 124.7 1.521 171.9 317.61 131.9 141.2 138.2
Annual 2.85 117.6 23.75 161.2 29.39 119.2 133.0 .567 128.7 1.186 134.0 320.90 133.2 132.7 130.6
1998: First quarter 2.99 123.1 23.42 158.9 16.95 68.8 98.4 .648 147.0 1.148 129.7 335.78 139.4 137.2 119.6
Second quarter   2.92 120.3 22.55 153.0 27.96 113.4 126.4 .524 118.9 1.060 119.7 318.26 132.2 126.6 125.6
Third quarter 3.31 136.6 23.66 160.6 32.77 132.9 142.0 .444 100.7 1.153 130.3 342.12 142.1 131.9 136.8
Fourth quarter 2.77 114.1 25.16 170.8 25.80 104.7 126.4 .588 133.5 1.114 125.8 366.06 152.0 141.9 131.4
Annual 3.01 124.3 23.65 160.5 25.00 101.4 120.8 .544 123.4 1.111 125.5 337.25 140.0 133.4 126.9

Annual Price Trends

1987 Base

Annual Price Trends Graph of Composite Index versus Years from 1990 to 1998. Data from above table

Quarterly Price Trends

1987 Base

Annual Price Trends Graph of Composite Index versus Quarter from 1990 to 1998. Data from above table


Price Trends for Federal-aid Highway

Construction Rural and Urban

1987 Base1
Year Common excavation Portland cement concrete surface2 Bituminous concrete surface Surfacing
Average contract price (cu. yd.) Index Average contract price (sq. yd.) Index Average contract price (ton) Index Index
Rural Urban Rural Urban Rural Urban Rural Urban Rural Urban Rural Urban Rural Urban
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15)
19722 .65 1.01 26.8 41.7 5.96 7.39 40.5 50.2 8.63 10.84 35.0 44.0 36.8 46.0
1973 .72 1.07 29.7 44.1 6.42 8.01 43.6 54.4 9.25 11.70 37.5 47.5 39.5 49.7
1974 .87 1.35 35.9 55.7 8.08 10.55 54.9 71.6 13.53 17.43 54.9 70.7 54.9 71.0
1975 .91 1.51 37.5 62.3 8.16 10.39 55.4 70.5 14.47 17.03 58.7 69.1 57.6 69.6
1976 .93 1.40 38.4 57.7 8.18 10.31 55.5 70.0 14.04 16.85 57.0 68.4 56.5 68.9
1977 1.09 1.46 45.0 60.2 8.83 11.52 59.9 78.2 14.84 17.71 60.2 71.9 60.1 73.9
1978 1.42 1.83 58.6 75.5 10.06 13.78 68.3 93.5 16.47 18.74 66.8 76.0 67.3 81.8
1979 1.45 2.15 59.8 88.7 12.33 16.59 83.7 112.6 20.15 24.37 81.8 98.9 82.4 103.4
1980 1.67 2.25 68.9 92.8 13.89 16.57 94.3 112.5 24.26 27.97 98.4 113.5 97.1 113.2
1981 1.55 2.27 63.9 93.6 13.02 15.32 88.4 104.0 24.63 26.68 99.9 108.2 96.1 106.9
1982 1.48 1.74 61.0 71.8 11.86 14.27 80.5 96.9 23.46 26.41 95.2 107.2 90.4 103.8
1983 1.59 2.10 65.6 86.6 11.83 14.58 80.3 99.0 23.46 26.72 95.2 108.4 90.3 105.3
1984 1.66 2.50 68.5 103.1 12.55 15.77 85.2 107.1 25.58 28.84 103.8 117.0 97.7 113.7
1985 1.85 3.20 76.3 132.0 13.29 15.67 90.2 106.4 27.51 30.89 111.6 125.3 104.6 119.1
1986 1.88 2.95 77.5 121.7 13.63 17.86 92.5 121.2 24.69 30.21 100.2 122.6 97.7 122.1
1987 1.91 3.37 78.8 139.0 13.37 17.06 90.8 115.8 23.39 27.81 94.9 112.8 93.5 113.8
1988 2.00 3.72 82.5 153.4 13.39 15.62 90.9 106.0 23.58 28.14 95.7 114.2 94.1 111.5
1989 2.01 3.20 82.9 132.0 13.56 16.67 92.0 113.2 22.17 28.66 89.9 116.3 90.6 115.3
1990 1.98 3.27 81.6 134.9 14.50 17.43 98.5 118.3 23.20 27.84 94.1 113.0 95.5 114.7
1991 1.98 2.89 81.6 119.2 16.02 17.08 108.8 115.9 24.51 27.63 99.4 112.1 102.5 113.4
1992 1.88 2.91 77.7 120.2 15.97 19.99 108.4 135.7 23.97 26.38 97.3 107.0 100.9 116.4
1993 2.16 3.57 89.2 147.3 18.41 19.50 124.9 132.3 25.86 27.20 104.9 110.4 111.5 117.6
1994: First quarter 2.01 4.38 82.9 180.8 19.82 19.32 134.5 131.1 24.39 30.58 98.9 124.1 110.6 126.4
Second quarter   2.12 2.79 87.3 115.0 21.63 21.79 146.8 147.9 26.42 30.21 107.2 122.6 120.2 130.9
Third quarter 2.66 3.81 109.6 157.3 18.95 24.25 128.6 164.6 29.11 32.46 118.1 131.7 121.6 142.5
Fourth quarter 2.11 4.04 87.2 166.8 18.07 24.19 122.6 164.2 25.14 30.20 102.0 122.5 108.8 136.2
Annual 2.20 3.58 90.6 147.8 19.45 22.00 132.0 149.3 26.26 30.89 106.5 125.3 114.9 133.2
1995: First quarter 2.15 4.01 88.7 165.3 19.87 26.88 134.9 182.5 25.23 30.80 102.4 124.9 113.0 143.9
Second quarter 2.26 3.83 93.1 158.1 21.41 22.75 145.3 154.4 27.49 30.71 111.5 124.6 122.6 134.4
Third quarter 2.06 4.98 84.9 205.4 23.71 19.87 160.9 134.9 29.01 35.32 117.7 143.3 131.9 140.5
Fourth quarter 3.08 3.42 126.9 141.0 20.18 22.84 136.9 155.1 25.98 31.35 105.4 127.2 115.8 136.4
Annual 2.36 3.94 97.3 162.5 20.63 23.52 140.0 159.6 26.96 32.04 109.4 130.0 119.4 139.7
1996: First quarter 2.29 3.75 94.5 154.6 24.06 26.19 163.3 177.7 24.72 29.90 100.3 121.3 120.9 139.8
Second quarter 2.59 3.89 106.8 160.2 18.70 16.16 126.9 109.7 26.62 29.55 108.0 119.9 114.2 116.5
Third quarter 3.19 3.43 131.4 141.5 19.40 21.70 131.7 147.3 29.17 23.83 118.4 96.7 122.7 113.3
Fourth quarter 2.61 3.60 107.7 148.4 19.04 21.75 129.3 147.6 28.56 32.63 115.9 132.4 120.3 137.4
Annual 2.67 3.68 110.3 151.9 19.49 19.76 132.3 134.1 27.31 27.84 110.8 112.9 117.8 119.9
1997: First quarter 2.31 4.76 95.3 196.1 22.48 29.84 152.6 202.6 29.91 34.97 121.4 141.9 131.6 161.8
Second quarter 2.57 4.85 106.2 199.0 20.83 27.42 141.4 186.1 27.63 33.42 112.1 135.6 121.7 152.2
Third quarter 2.90 2.85 119.6 117.7 22.10 26.30 149.9 178.5 23.54 34.06 95.5 138.2 113.4 151.5
Fourth quarter 1.97 3.91 81.4 161.4 24.47 31.97 166.1 216.9 31.36 30.65 127.2 124.4 139.9 154.8
Annual 2.47 3.96 102.1 163.4 21.50 27.14 145.9 184.2 27.71 33.48 112.4 135.8 123.4 151.7
1998: First quarter 2.44 5.44 100.7 224.6 19.90 27.75 135.1 188.4 13.54 31.55 54.9 128.0 81.3 147.8
Second quarter 2.47 4.11 101.8 169.5 21.71 23.31 147.4 158.2 25.82 35.93 104.7 145.8 118.8 149.9
Third quarter 3.10 4.20 127.7 173.3 27.61 20.89 187.4 141.8 32.02 35.40 129.9 143.6 148.8 143.0
Fourth quarter 2.38 4.60 98.3 189.5 24.70 27.80 167.7 188.7 31.36 19.72 127.2 79.9 140.5 115.7
Annual 2.63 4.51 108.4 186.1 23.14 24.34 157.1 165.2 23.86 28.09 96.8 113.9 116.6 130.8

1 Base for composite index, 1987, involves 210,078,000 cubic yards of roadway excavation, 30,893,690 square yards of portland cement concrete surfacing with an average thickness of 9 inches, 37,760,443 tons of bituminous concrete surfacing, 577,753,544 pounds of reinforcing steel for structures, 444,924,141 pounds of structural steel and 3,498,333 cubic yards of structural concrete.

2 Starting with 1972, prices for portland cement concrete surfacing reflect adjustments to a standard 9" thickness in each State. Prices do not include costs for reinforcing steel and joints.

Price Trends for Federal-aid Highway

Construction Rural and Urban

Continued
Year Structural reinforcing steel Structural steel Structural concrete Structures Composite
Average contract price (lb.) Index Average contract price (lb.) Index Average contract price (cu. yd.) Index Index Index Ratio of urban prices to rural prices
Rural Urban Rural Urban Rural Urban Rural Urban Rural Urban Rural Urban Rural Urban Rural Urban
(1) (16) (17) (18) (19) (20) (21) (22) (23) (24) (25) (26) (27) (28) (29) (30) (31) (32)
1972 .178 .182 40.4 41.3 .333 .346 37.6 39.1 100.68 99.66 41.8 41.4 40.5 40.8 36.9 43.0 1.17
1973 .204 .208 46.3 47.2 .391 .355 44.2 40.1 111.48 112.07 46.3 46.5 45.7 45.0 40.8 46.8 1.15
1974 .339 .340 76.9 77.1 .508 .573 57.4 64.7 138.76 135.35 57.6 56.2 60.9 62.0 54.7 64.8 1.18
1975 .287 .307 65.1 65.1 .523 .582 59.1 65.8 135.00 143.27 56.1 59.5 58.4 62.1 54.9 65.2 1.19
1976 .269 .248 61.0 56.3 .478 .488 54.0 55.1 141.20 138.08 58.6 57.3 57.8 56.6 54.4 61.8 1.14
1977 .274 .270 62.2 61.3 .523 .517 59.1 58.4 145.33 141.68 60.3 58.8 60.3 59.1 57.9 65.4 1.13
1978 .323 .309 73.3 70.1 .586 .615 66.2 69.5 173.49 171.30 72.0 71.1 70.7 70.5 67.5 75.9 1.12
1979 .416 .425 94.4 96.4 .768 .753 86.8 85.1 219.07 205.25 91.0 85.2 90.4 87.1 82.5 94.0 1.14
1980 .463 .498 105.1 113.0 .777 1.012 87.8 114.3 241.38 217.76 100.2 90.4 97.8 100.6 93.1 104.6 1.12
1981 .440 .436 99.8 98.9 .773 .800 87.3 90.4 254.71 216.49 105.8 89.9 99.9 91.6 92.9 98.1 1.06
1982 .414 .403 93.9 91.4 .705 .778 79.7 87.9 237.52 210.03 98.6 87.2 92.8 88.1 87.0 92.1 1.06
1983 .391 .402 88.7 91.2 .672 .731 75.9 82.6 217.00 211.84 90.1 88.0 86.1 87.1 84.7 94.5 1.11
1984 .408 .409 92.6 92.8 .667 .724 75.4 81.8 226.17 213.60 93.9 88.7 88.8 87.6 89.4 100.6 1.13
1985 .441 .446 100.1 101.2 .794 .797 89.7 90.1 240.45 245.36 99.8 101.9 97.2 98.6 97.1 112.0 1.15
1986 .448 .440 101.7 99.8 .832 .856 94.0 96.7 260.72 228.50 108.3 94.9 103.4 96.2 97.1 110.7 1.14
1987 .456 .436 103.5 98.9 .848 .900 95.8 101.7 258.21 234.95 107.2 97.6 103.6 98.9 95.7 111.0 1.16
1988 .481 .498 109.1 113.0 .890 .932 100.6 105.3 262.23 278.33 108.9 115.6 106.7 112.4 97.9 118.2 1.21
1989 .495 .576 112.3 130.7 .994 1.026 112.3 115.9 273.78 286.88 113.7 119.1 113.1 120.3 99.4 120.0 1.21
1990 .580 .510 131.6 115.7 .934 1.04 105.6 117.5 297.22 281.33 123.4 116.8 120.1 116.8 104.3 118.7 1.14
1991 .492 .510 111.5 115.7 .939 1.06 106.1 119.8 276.49 259.65 114.8 107.8 111.9 112.3 103.5 113.8 1.10
1992 .482 .530 109.5 120.9 .879 .94 99.3 106.0 281.19 250.79 116.8 104.1 110.9 107.5 101.8 113.1 1.11
1993 .492 .453 111.6 102.7 .859 .863 97.1 97.5 259.52 263.29 107.7 109.3 105.6 105.0 105.5 116.5 1.10
1994: First quarter .493 .542 111.9 122.9 .860 .729 97.1 82.3 262.58 277.11 109.0 115.1 106.4 107.8 104.6 126.4 1.21
Second quarter   .518 .520 117.6 118.0 .738 .795 83.4 89.8 276.15 252.40 114.7 104.8 106.9 103.1 109.4 116.3 1.06
Third quarter .483 .494 109.6 112.1 .961 .829 108.6 93.6 303.10 273.70 125.9 113.6 118.5 108.1 118.4 129.6 1.09
Fourth quarter .512 .514 116.3 116.6 .870 .979 98.3 110.6 281.48 277.45 116.9 115.2 111.9 114.2 106.9 131.1 1.23
Annual .501 .520 113.7 118.0 .843 .849 95.3 95.9 276.76 269.93 114.9 112.1 109.5 108.8 108.9 124.6 1.14
1995: First quarter .493 .565 111.9 128.3 .831 .925 93.9 104.5 273.26 323.23 113.5 134.2 108.0 125.4 107.2 138.9 1.29
Second quarter .503 .612 114.2 138.8 .875 .982 98.8 110.9 275.89 326.38 114.5 135.5 110.3 129.6 112.8 135.9 1.20
Third quarter .497 .533 112.8 120.8 .819 .998 92.5 112.8 252.72 320.01 104.9 132.9 103.0 125.5 112.1 143.7 1.28
Fourth quarter .523 .566 118.8 128.4 .892 .998 100.8 112.7 298.67 318.56 124.0 132.3 116.9 126.5 117.9 132.7 1.12
Annual .503 .561 114.1 127.4 .853 .973 96.3 109.9 272.76 321.85 113.2 133.6 108.9 126.3 111.5 137.2 1.23
1996: First quarter .524 .464 118.9 105.3 .989 1.254 111.7 141.7 302.40 321.03 125.6 133.3 120.8 130.8 116.9 138.1 1.18
Second quarter .573 .530 130.1 120.3 1.036 1.008 117.1 113.9 331.94 279.02 137.8 115.9 131.0 116.1 120.5 122.9 1.01
Third quarter .646 .554 146.6 125.7 1.050 1.132 118.6 127.9 335.68 278.03 139.4 115.5 135.1 120.5 129.5 120.7 .93
Fourth quarter .487 .507 110.6 115.1 1.098 1.060 124.0 119.7 248.81 292.95 103.3 126.6 110.0 120.0 113.9 131.4 1.15
Annual .564 .519 127.9 117.7 1.047 1.084 118.3 122.5 301.57 288.80 125.2 119.9 123.9 120.2 119.4 124.9 1.05
1997: First quarter .581 .586 131.7 132.9 1.062 1.190 119.9 134.5 332.07 366.72 137.9 152.3 132.1 144.3 126.4 159.3 1.26
Second quarter .607 .577 137.7 131.0 1.130 1.092 127.6 123.4 277.44 326.61 115.2 135.6 122.3 131.6 119.7 150.2 1.25
Third quarter .529 .539 119.9 122.2 1.014 1.079 114.6 121.9 303.33 284.27 125.9 118.0 121.9 119.8 118.1 132.4 1.12
Fourth quarter .551 .549 124.9 124.5 1.146 1.618 129.5 182.8 338.60 308.92 140.6 128.3 134.9 142.0 128.9 150.2 1.16
Annual .568 .566 128.9 128.5 1.075 1.227 121.5 138.6 307.58 329.17 127.7 136.7 126.3 135.8 121.5 146.5 1.21
1998: First quarter .643 .651 145.9 147.6 1.096 1.201 123.8 135.7 353.48 321.54 146.8 133.5 140.6 136.5 110.3 154.4 1.40
Second quarter .498 .551 112.9 125.1 .969 1.100 109.5 124.3 342.50 299.97 142.2 124.6 128.6 124.6 120.5 141.7 1.17
Third quarter .521 .402 118.2 91.3 1.203 1.131 135.9 127.8 359.28 318.88 149.2 132.4 140.4 124.2 141.9 139.3 .98
Fourth quarter .611 .570 138.6 129.3 1.054 1.161 119.1 131.6 370.62 362.62 153.9 150.6 142.1 141.8 134.9 138.3 1.03
Annual .559 .533 126.8 121.0 1.061 1.144 119.9 129.3 354.92 321.48 147.4 133.5 136.6 130.2 124.2 138.9 1.11

Price Trends for Federal-Aid Highway Construction

1987 Base1

Three-Quarter Moving Index

Year Common excavation Surfacing Structures Composite index
Average contract price (cu. yd.) Index Portland cement concrete2 Bituminous concrete Surfacing index Reinforcing steel Structural steel Structural concrete Structures index
Average contract price (sq. yd.) Index Average contract price (ton) Index Average contract price (lb.) Index Average contract price (lb.) Index Average contract price (cu. yd.) Index
1986: 2.31 95.3 15.84 107.5 25.70 104.3 105.3 .440 99.8 .855 96.6 232.34 96.5 97.1 100.2
1987: 2.59 106.8 15.20 103.2 25.44 103.2 103.2 .451 102.3 .877 99.1 258.33 107.3 104.3 104.2
1988: 2.56 105.6 14.81 100.5 24.83 100.7 100.7 .534 121.2 .989 111.7 283.00 117.5 116.6 108.4
1989: 2.68 110.6 16.20 110.0 24.73 100.3 103.5 .557 126.4 1.004 113.4 280.61 116.5 117.4 110.7
1990: First quarter 2.72 112.3 15.74 106.8 24.13 97.9 100.8 .514 116.7 1.021 115.4 271.63 112.8 114.1 108.4
Second quarter   2.45 100.9 15.65 106.2 24.06 97.6 100.5 .546 123.8 0.978 110.5 291.44 121.0 118.7 108.5
Third quarter 2.34 96.5 16.14 109.5 24.54 99.6 102.8 .512 116.2 1.007 113.8 284.02 117.9 116.6 107.9
Fourth quarter 2.24 92.3 16.24 110.2 25.88 105.0 106.7 .532 120.7 1.076 121.6 292.29 121.4 121.3 111.0
1991: First quarter 2.22 91.6 16.28 110.5 26.51 107.6 108.5 .522 118.4 1.127 127.3 289.85 120.4 121.9 111.9
Second quarter 2.30 94.7 16.42 111.5 25.79 104.7 106.9 .529 120.0 1.074 121.4 287.56 119.4 120.0 110.8
Third quarter 2.35 96.8 16.84 114.3 24.94 101.2 105.5 .491 111.5 .994 112.3 255.91 106.3 108.8 105.6
Fourth quarter 2.32 95.7 17.18 116.7 24.54 99.6 105.2 .475 107.7 .919 103.9 244.71 101.6 103.2 102.9
1992: First quarter 2.27 93.5 17.55 119.2 24.71 100.3 106.5 .468 106.3 .933 105.5 253.65 105.3 105.5 104.1
Second quarter 2.23 91.9 17.70 120.2 24.32 98.7 105.7 .528 119.8 .922 104.2 251.80 104.6 107.1 104.2
Third quarter 2.22 91.6 18.05 122.5 24.54 99.6 107.1 .533 120.8 .934 105.5 260.89 108.3 109.7 105.9
Fourth quarter 2.30 94.8 18.07 122.6 24.71 100.2 107.6 .538 122.0 .908 102.6 249.85 103.8 106.5 105.2
1993: First quarter 2.29 94.3 18.20 123.6 24.96 101.3 108.6 .480 108.9 .894 111.0 280.93 116.7 111.2 107.6
Second quarter 2.56 105.4 18.09 122.8 25.82 104.8 110.7 .468 106.1 .867 98.0 265.21 110.1 106.2 107.9
Third quarter 2.47 102.1 19.00 129.0 26.61 107.9 114.9 .468 106.1 .841 95.1 259.28 107.6 104.1 108.1
Fourth quarter 2.55 105.1 19.43 131.9 27.28 110.7 117.6 .483 109.5 .812 91.7 257.48 106.9 103.4 109.5
1994: First quarter 2.57 106.2 20.69 140.4 27.01 109.6 119.7 .501 113.7 .795 89.8 261.19 108.4 104.4 110.9
Second quarter 2.80 115.5 20.58 139.7 27.95 113.4 122.0 .515 116.9 .797 90.0 268.38 111.4 106.7 114.3
Third quarter 2.68 110.5 21.52 146.1 28.38 115.1 125.3 .509 115.4 .874 98.7 271.68 112.8 109.5 116.1
Fourth quarter 2.78 114.6 22.16 150.4 28.26 114.7 126.4 .535 121.3 .911 102.9 291.80 121.2 116.4 120.2
1995: First quarter 2.65 109.3 22.36 151.8 27.65 112.2 125.2 .549 124.9 .939 106.1 300.18 124.6 119.7 120.4
Second quarter 2.60 107.1 22.46 152.5 29.11 118.1 129.4 .539 122.4 .912 103.1 299.72 124.5 118.4 121.2
Third quarter 2.73 112.7 21.48 145.8 29.42 119.4 128.1 .540 122.6 .931 105.1 301.01 124.9 119.3 121.9
Fourth quarter 2.83 116.7 22.01 149.4 28.88 117.2 127.8 .522 118.5 .969 109.5 303.10 126.1 120.4 122.9
1996: First quarter 3.03 124.8 20.06 136.2 27.41 111.2 119.4 .532 120.8 1.021 115.3 306.26 127.2 122.9 121.8
Second quarter 3.05 125.6 19.40 131.7 26.99 109.5 116.8 .548 124.4 1.066 120.4 302.17 125.5 123.9 121.3
Third quarter 2.92 120.6 18.87 128.1 27.72 112.5 117.6 .546 123.8 1.057 119.4 290.28 120.5 120.8 119.5
Fourth quarter 2.85 117.5 21.28 144.5 29.21 118.5 127.0 .558 126.5 1.118 126.3 306.70 127.4 126.9 125.6
1997: First quarter 2.85 117.4 22.18 150.6 30.24 122.7 131.8 .552 125.2 1.121 126.6 309.44 128.5 127.4 127.7
Second quarter 2.93 120.9 23.12 156.9 28.96 117.5 130.5 .571 129.6 1.120 126.6 321.59 133.5 131.0 129.3
Third quarter 2.92 120.4 24.58 166.9 28.63 116.2 132.8 .559 126.9 1.199 135.4 305.82 126.9 129.2 129.4
Fourth quarter 2.82 116.2 24.51 166.4 23.56 95.6 118.8 .586 132.9 1.207 136.3 316.75 131.5 133.0 124.7
1998: First quarter 2.85 116.6 23.83 161.7 23.84 96.71 118.1 .573 130.0 1.177 132.9 323.75 134.4 133.3 124.6
Second quarter 3.10 127.7 23.19 157.4 24.76 100.4 119.2 .533 120.9 1.110 125.4 330.77 137.3 131.4 125.8
Third quarter 3.02 124.6 23.75 161.2 28.85 117.0 131.5 .512 116.1 1.093 123.5 337.68 140.2 131.7 130.6
Fourth quarter                              

1 Base for composite index, 1987, involves 210,078,000 cubic yards of roadway excavation, 30,893,690 square yards of portland cement concrete surfacing with an average thickness of 9 inches, 37,760,443 tons of bituminous concrete surfacing, 577,753,544 pounds of reinforcing steel for structures, 444,924,141 pounds of structural steel and 3,498,333 cubic yards of structural concrete.

Price Trends for Federal-Aid Highway Construction

1987 Base1
State Common excavation Surfacing Structures Composite index
Average contract price (cu. yd.) Index Portland cement concrete2 Bituminous concrete Surfacing index Reinforcing steel Structural steel Structural concrete Structures index
Average contract price (sq. yd.) Index Average contract price (ton) Index Average contract price (lb.) Index Average contract price (lb.) Index Average contract price (cu. yd.) Index
Connecticut 9.49 140.19 0.00 0.00 37.75 80.98 80.98 0.728 130.35 1.300 111.42 520.63 143.36 134.07 115.49
Maine 3.76 73.11 0.00 0.00 30.06 106.47 106.47 0.723 136.80 0.955 128.59 300.33 135.44 133.56 107.56
Massachusetts 5.96 69.76 70.00 0.00 30.44 85.89 85.89 0.919 35.05 0.000 0.00 352.32 132.10 76.86 76.96
New Hampshire 3.23 109.17 0.00 0.00 0.37 1.23 1.23 0.664 131.17 0.864 125.47 75.55 54.35 95.14 60.92
New Jersey 11.16 102.36 46.48 87.84 31.51 95.62 94.19 0.713 78.45 0.973 81.44 375.26 110.91 94.74 97.51
New York 15.29 253.73 50.48 173.84 33.07 97.23 99.94 0.968 136.94 0.957 96.14 418.86 109.27 105.56 124.76
Rhode Island 17.01 538.62 0.00 0.00 28.20 87.53 87.53 0.874 149.92 0.000 0.00 529.71 123.64 126.96 158.68
Vermont 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000 0.00 0.000 0.00 0.00 0.00 0.00 0.00
Puerto Rico 7.75 252.66 51.56 222.78 52.49 133.57 150.81 0.567 138.32 0.000 0.00 0.00 0.00 138.32 178.89
Delaware 6.95 227.02 42.00 1702.40 35.13 115.45 217.69 0.603 104.88 0.000 0.00 393.27 156.89 143.99 196.06
Dist. of Columbia  12.27 43.65 31.09 71.29 40.25 49.61 56.00 0.500 96.26 0.000 0.00 0.00 0.00 96.26 54.22
Maryland 5.63 102.15 310.37 655.20 31.07 117.25 297.77 0.521 109.60 0.856 85.55 531.68 131.57 115.00 180.06
Pennsylvania 4.17 112.96 36.16 175.98 43.41 129.75 151.10 0.678 114.35 0.967 84.04 342.86 93.31 94.04 115.07
Virginia 3.87 125.25 33.30 161.56 29.62 95.76 138.14 0.581 109.71 0.898 111.47 341.14 128.13 120.32 122.79
West Virginia 2.59 40.95 40.69 250.78 35.21 134.98 188.80 0.669 116.74 1.296 104.87 406.46 94.73 101.56 119.12
Alabama 1.74 123.72 0.00 0.00 30.57 132.19 132.19 0.509 133.46 1.319 136.06 366.98 133.15 134.13 132.51
Florida 3.60 80.03 28.00 107.51 37.89 120.29 119.56 0.556 111.94 1.558 146.14 387.79 140.46 136.48 125.36
Georgia 3.66 198.16 28.53 167.17 33.91 120.53 127.43 0.476 123.04 1.184 152.46 293.91 108.85 118.55 131.66
Kentucky 8.70 330.15 32.66 182.58 33.18 128.68 153.96 0.734 145.06 1.412 153.87 516.08 189.71 174.82 197.01
Mississippi 1.84 162.36 0.00 0.00 36.14 140.29 140.29 0.409 117.51 0.836 119.38 304.48 134.90 129.58 140.47
North Carolina 1.34 74.65 27.97 177.70 35.48 133.86 142.06 0.461 109.13 1.055 128.95 343.72 142.17 132.56 124.58
South Carolina 5.78 155.11 27.55 168.54 35.65 132.88 138.69 0.587 152.90 1.090 152.41 463.04 216.12 188.04 172.75
Tennessee 4.31 246.74 23.70 120.69 26.78 125.93 125.44 0.490 120.25 1.362 178.06 232.53 119.15 139.45 159.47
Illinois 5.08 127.24 27.00 160.84 32.99 112.32 123.24 0.820 147.76 1.235 146.87 523.20 152.24 149.96 135.24
Indiana 3.50 155.81 24.44 181.97 31.04 132.26 157.32 0.606 110.69 1.428 199.98 380.01 124.42 141.95 149.68
Michigan 4.04 133.27 17.89 133.40 33.39 177.91 154.71 0.613 130.79 1.655 128.68 294.42 286.50 213.56 167.83
Minnesota 2.49 111.99 185.14 1368.72 28.54 162.00 661.74 0.031 7.18 0.000 0.00 62.13 31.48 25.60 275.34
Ohio 3.87 60.09 24.34 127.39 29.24 125.91 126.40 0.550 110.27 0.983 112.56 391.49 123.70 117.81 110.48
Wisconsin 1.80 94.96 17.48 173.44 26.98 162.21 166.65 0.795 183.27 0.000 0.00 32.33 14.21 57.97 137.11
Arkansas 2.18 88.82 22.87 88.84 29.95 115.70 112.59 0.534 122.47 0.931 137.00 286.34 121.60 126.88 116.57
Louisiana 8.58 336.58 32.18 199.99 39.04 157.08 178.05 0.440 129.39 2.805 320.41 415.18 191.39 205.16 206.69
New Mexico 2.26 71.37 29.87 75.45 29.06 124.17 123.25 0.658 126.33 2.529 160.59 299.43 87.51 106.46 111.72
Oklahoma 2.48 122.49 32.31 247.51 29.33 119.12 166.10 0.589 142.19 0.971 133.37 256.82 120.23 127.55 147.02
Texas 2.29 81.55 10.51 76.36 37.67 124.62 95.93 0.341 93.69 1.002 146.68 311.57 142.69 137.97 106.55
Iowa 1.64 98.31 17.25 114.30 28.46 124.09 117.71 0.496 141.47 0.829 111.34 282.30 160.04 151.35 121.17
Kansas 2.42 79.79 22.01 135.36 32.75 141.28 136.59 0.569 119.26 1.058 12.99 318.24 158.33 82.69 101.84
Missouri 1.75 117.56 24.32 196.72 5.10 19.82 75.35 0.594 101.04 1.246 137.80 351.57 100.62 114.82 96.14
Nebraska 3.07 233.03 15.36 134.99 28.58 148.02 141.96 0.584 119.57 0.903 141.20 311.86 149.79 142.16 152.25
Colorado 5.94 279.62 31.79 254.95 38.18 166.41 182.97 0.494 119.62 1.663 187.91 315.03 152.27 155.17 189.41
Montana 3.02 173.72 28.00 223.71 24.32 145.45 156.45 0.680 137.19 7.918 1274.50 407.68 139.90 267.00 166.66
North Dakota 1.90 229.13 17.52 153.58 23.57 126.81 138.61 0.580 124.06 0.000 0.00 242.75 114.39 116.41 145.48
South Dakota 1.56 177.27 16.93 128.70 25.27 141.77 136.27 0.543 116.90 1.207 145.04 322.50 143.69 135.42 143.41
Utah 4.49 275.89 28.15 264.63 23.75 108.50 170.80 0.615 147.05 0.873 127.08 293.81 141.63 135.48 182.06
Wyoming 2.57 180.52 21.83 168.49 25.06 145.57 153.91 0.658 129.01 0.696 105.27 276.96 87.70 97.87 154.43
Arizona 2.53 79.06 16.60 97.72 29.27 148.67 134.73 0.406 103.07 0.000 0.00 282.61 142.59 131.91 126.56
California 5.54 172.36 40.38 190.54 34.75 134.35 145.43 0.495 117.59 1.456 95.17 342.28 127.78 125.15 138.28
Hawaii 25.41 396.79 0.00 0.00 66.15 115.76 115.76 0.900 88.32 9.393 293.53 637.58 33.52 38.90 94.82
Nevada 5.62 183.17 32.64 281.61 32.35 131.33 204.09 0.498 111.61 1.335 178.35 242.07 116.66 127.14 183.11
Alaska 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000 0.00 0.000 0.00 0.00 0.00 0.00 0.00
Idaho 2.23 135.12 49.94 226.73 27.07 130.16 187.08 0.642 163.47 0.958 108.70 334.69 130.02 138.56 168.67
Oregon 5.58 153.64 83.97 1404.74 28.11 114.96 389.15 2.152 416.16 0.000 0.00 472.43 161.31 219.60 288.09
Washington 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000 0.00 0.000 0.00 0.00 0.00 0.00 0.00
United States 3.01 124.25 23.65 160.53 25.00 101.43 120.84 0.544 123.43 1.111 125.49 337.25 140.03 133.36 126.87

1 Indices are based on information submitted for Federal-aid construction contracts over $500,000. In some instances, individual State indices may not be truly representative of long-term price trends because of comparatively low volumes of work for the period reported, or because of unusual projects awarded during the period. Also, differences in bid item specifications among the States might account for some of the differences in unit prices in the various States.

The base for each State index is its own particular "market basket" of quantities and costs during the base period. The composite index for each State measures the change in that State's index since base year 1987. (In 1987 each State's index equalled 100.)

U.S. Department of Transportation
Federal Highway Administration
1200 New Jersey Avenue SE Washington, D.C. 20590
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