Although road and bridge construction costs continue to be high compared to pre-pandemic levels, the prices of key materials — like concrete, asphalt and diesel — have been coming down, providing some much needed relief for builders.
However, that doesn’t mean inflation is done with the industry, especially as labor woes continue. The cost of highway construction projects jumped 53.8% in the first quarter of 2023 from the fourth quarter of 2020, according to the Federal Highway Administration National Highway Construction Cost Report.
