2022 CEPCI updates: February (prelim.) and January (final)

The preliminary value for the February 2022 CE Plant Cost Index (the most recent available) was higher than the previous month, continuing the steep monthly increases observed throughout 2021. The upward trend has been driven largely by equipment costs — the Equipment subindex rose in February while the Construction Labor, Buildings and Engineering & Supervision subindices all fell slightly. The current CEPCI value now sits at 26.4% higher than the corresponding value from February 2021. A larger-than-usual variance between the preliminary and final January 2022 values, coupled with a calculation error, resulted in upwardly revised values for the final January 2022 CEPCI, compared to the preliminary numbers for January.