2024 Cost Escalation Predictions

An escalation percentage is applied to the direct construction costs (trade costs) within a construction cost estimate. This number adjusts the direct cost total to account for labor and material fluctuations to a future time – either when the project breaks ground or goes out for bid. For those planning a year or more in advance for a project, this factor is significant and critical to include.

Fill out the Google Form below to receive ICI’s predicted cost escalation factor for projects bidding in Q1 or Q2 2025.

Construction Cost Escalation Google Form