2024 CEPCI updates: February (prelim.) and January (final)

The preliminary value for the CE Plant Cost Index (CEPCI) for February 2024 (most recent available) rose compared to the previous month’s value, continuing a string of increases over the past three months. For February, the increase in the overall CEPCI was driven by gains in the Equipment and Buildings subindices, which offset smaller decreases in both the Construction Labor and Engineering & Supervision subindices. The current CEPCI value now sits at 0.3% higher than the corresponding value from February 2023. The higher year-upon-year value for this month marks the first time in a year that the current CEPCI value is above the corresponding year-ago value. Meanwhile, Current Business Indicators show a rise in the CPI output index for February and decline in the CPI value of output for January.