Dive summary:

• Turner Construction Company's respected Building Cost Index stands at 849 for this quarter of 2013, putting it 3.41% above the first quarter of 2012 and 1.19% over its measure for the last quarter of 2012.
• The company has been calculating the index every quarter for more than 80 years; it looks at costs, not at how much elasticity contractors have in what they can charge.
• Materials and equipment costs are up, Vice President Karl F. Almstead said, along with slightly higher labor costs.

From the article:

The Cost Index is determined by several factors considered on a nationwide basis, including labor rates and productivity, material prices and the competitive condition of the marketplace. ...