Inflation indices: one size does not fit all

Figure 1 shows CPI and CPIH to be stable compared to construction indices, suggesting practicality in benchmarking and financial planning. Meanwhile, BCIS’s All-in TPI saw high inflation early on, but since 2021, the Infrastructure Output Price Index and Civil Engineering TPI have been more volatile. Civil Engineering TPI had nine quarters of year-on-year changes over 9% from 2021 Q3 to 2023 Q3, while CPI had only three, and CPIH none.