BIS construction price and cost indices are essential to those involved in estimating, cost checking and fee negotiation on public sector construction works
BIS prices and cost indices
The quarterly BIS construction price and cost indices (PCIs) are a basic ‘tool of trade’ to anyone involved in estimating, cost checking and fee negotiation on public sector construction works. The PCIs are published as an online service by the Building Cost Information Service (BCIS) under contract to BIS.
The publication provides comprehensive public sector construction price and cost information in Great Britain, comprising the following indices:
- Tender Price Index (TPI) of Public Sector Building Non-housing, Social Housing Building and Road Construction.
- Resource Cost Indices for Buildings, Roads, Infrastructure, and Building Maintenance.
- Output price indices (OPIs) for construction sectors.
- Output price indices for direct labour.
- Location and function studies.
The latest Quarterly Price and Cost Indices are comprised of the Tender Price Indices, Resource Cost Indices and Output Price Indices. The indices are accompanied by a commentary.
The indices are also available through the BCIS website at a charge of £115 + VAT (annual subscription), where further complementary Cost Indices and other construction data are available.
The All New Construction Output Price Index is available quarterly in Table 3.7 of the Monthly Digest of Statistics while the Tender Price Indices, Output Price Indices and Resource Cost Indices are available annually in chapters 4 and 5 of the Construction Statistics Annual.
The United Kingdom Statistics Authority has designated these statistics as National Statistics, in accordance with the Statistics and Registration Service Act 2007 and signifying compliance with the Code of Practice for Official Statistics.
Designation can be broadly interpreted to mean that the statistics:
- meet identified user needs;
- are well explained and readily accessible;
- are produced according to sound methods, and
- are managed impartially and objectively in the public interest.
Once statistics have been designated as National Statistics it is a statutory requirement that the Code of Practice shall continue to be observed.
BIS and BCIS have published methodology notes for each set of BIS Construction and Price Indices:
BIS and BCIS have also published:
In 2008 BIS commissioned Davis Langdon LLP to undertake a review of the PCIs (DOC, 637 Kb) in order to provide an assessment of the reasons for government funding of the indices. The BIS response to this review gives the department’s response to the recommendations (DOC, 32 Kb) .
The Branch previously published the following related publications:
- Price Adjustment Formulae Indices online
- MTC Updating Percentages online
These publications are no longer under contract to BIS, but continue to be available through subscription from the BCIS website.
BIS is conducting a survey on how construction Price and Cost Indices are used and which aspects are most important to users. The results will help us to improve the indices and inform the retendering process when the current contract with BCIS comes to an end. If you are a user of construction PCIs, then please take the time to let us know your views.
For more information about the BIS Price and Cost Indices please contact BCIS.