Factor inflation into bridge fix comparison
February 26, 2015 11:00 pm
• Last Updated: February 26, 2015 10:42 pm
The front-page story, "Gold Star safe but needs rehab" (Feb. 22), said it would cost about 30 times more than the original construction to rehabilitate the Gold Star bridge.
That is misleading, at best. Using the cumulative inflation rate between Jan. 1943 and Jan. 2014 (the last date available in the Cumulative Inflation Calculator) we see that $1 in 1943 would be worth $13.84 at the end of 2014.
Thus, the $6 million cost to build would become a bit more than $83 million. Thus, the $200 million high-end estimate is about two and a half times greater than the building cost, using inflation-adjusted dollars.
Given the improvements in construction materials, techniques, and design, this may be a real bargain!