March 4, 2022
By Chris Barnett
When Providence, Rhode Island, architect David DeQuattro bids on a new office building project, he’s rolling the dice. But it’s a crapshoot in any city.

Odds are steep that no bid will hold up in the face of 40-year inflation peaks, labor shortages exacerbated by COVID-19 and retiring workers and delivery delays of up to two years.

Every bid is a bet against a “three-headed inflationary dragon,” said DeQuattro, owner of RGB Architects Corp., which has been in business 76 years.

Recent government data backs that up. The Producer Price Index for construction climbed 22% last year. Eye-poppers ranged from 42% for fabricated structural metal products, 87% for iron and steel and 127% for steel mill products.

To read more, visit Construction Dive.