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RICHMOND — The cost of highway construction in Virginia in the second quarter of 1962 was four per cent more than that of the previous quarter and six and a half per cent more than the 1961 average, the State Highway Department announced today. . With 1957-59 as a base period, the price index has risen from, an annual low of 88.5 in 1959 to 98.0 for the last quarter. The 1960 composite index was 91.8, and the 1961 index, 92.0. The highest index was in 1956, when the first work on the interstate system pushed the figure to 118.4.
In a cost breakdown, the Department reported that the bid price for excavation was two per cent more than that of the first quarter and 10 per cent more than the 1961 average. .The cost of surfacing came to approximately
80.8%