United States Department of Transportation
i
Price Trends for Federal-Aid Highway Construction: 1987 Base, Third Quarter 2006
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2006-07-01
[PDF-68.23 KB]
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Abstract:The National Highway Construction Cost Index (NHCCI) is intended as a price index that can be used both to track pure price-changes associated with highway construction costs and to convert current-dollar expenditures on highway construction to real- or constant-dollar expenditures. The NHCCI is intended to replace the Federal Highway Administration's (FHWA) Bid-Price Index (BPI) in the future, but also to be compared with the BPI for historical purposes. This report presents a description of the research into developing a new price index using Oman Systems, Inc. (OSI) Bid-Tabs data and the methodology used to produce the NHCCI on a quarterly basis. A companion document describes the mathematics of the indexing used in NHCCI. The conclusion is that a Fisher Index based on the OSI Bid-Tabs data gives results that are both representative of construction costs as a whole and are consistent with related price indexes, such as the PPI for Highway and Street Construction and the historical BPI.
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