KMI Cost Index – February 2026
The February 2026 Cost Index reflects a relatively stable start to the year, with Building Cost and Construction Cost each increasing 0.10%, while Material Cost rose modestly at 0.30%. Labor remained flat, with both Common Labor and Skilled Labor showing 0.00% monthly change, suggesting no measurable wage escalation during this reporting period. The most notable material pressure came from wood-based products, with Lumber increasing 12.00% and 5/8″ Plywood increasing 6.00%, followed by 1/2″ Gypsum Wallboard at 3.00%, Hot Rolled Carbon Steel at 2.80%, and Wide Flange Steel at 1.80%. Reinforcing Bars and Cement showed minimal movement at 0.04% and 0.07%, respectively. Overall, the February report points to a steady broader cost environment, with selective material volatility—especially in lumber, plywood, and certain metals—requiring close attention to procurement timing, bid assumptions, and scope completeness.
Click on the link above to view the latest cost data for February 2026.