The fourth quarter 2011 report of the Turner Building Cost Index, which tracks the cost of building non-residential projects for construction companies, increased marginally compared to the previous quarter, reflecting the fact that construction companies are spending more on their projects.
"Commodity and material prices, although stable, are putting slight upward pressure on construction prices." said Karl Almstead, vice president at Turner. "There are some indications of material price increases in the first part of 2012. However, price increases predicted by producers have not materialized."
The index rose by 0.49 percent compared to third quarter, and is up 2.12 percent compared to the previous year as prices continue to rise.
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