Inflation Taking Bite Out Of New Infrastructure Projects

According to the Associated Press — Inflation is wreaking havoc on infrastructure projects all around the United States. The cost of building roads, bridges, rail lines, and water mains is rising due to rising prices for commodities such as asphalt, steel, and iron pipes. Some infrastructure materials have increased in price at a greater rate than normal consumer costs.
Inflation, according to state and municipal officials, is eroding the value of a $1 trillion federal infrastructure bill signed by President Joe Biden only seven months ago. According to some officials, inflation has pushed them to postpone or reduce the scope of projects.

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