Annual Construction Cost Hikes Reach Pandemic-Era Rates as Iran War Winds Down

AI Summary

Following a preliminary deal between the U.S. and Iran to end their conflict, the U.S. construction industry is experiencing significant cost hikes. Recent data show the largest year-over-year increases in construction input costs, reflecting the lingering economic impacts of the war and pandemic-era inflation trends.

The U.S. and Iran have struck a preliminary deal to end the war, but the conflict has left a painful impression on the U.S. construction industry. Analyses of recent government data released last week by Associated Builders and Contractors (ABC) and Associated General Contractors of America (AGC) revealed the largest year-over-year hikes in construction input […]