HOW INDEXES HAVE CHANGED

Gerald L. Farrar Contributing Editor The accompanying table at right compares refinery construction and operating wages monthly for the years 1990 and 1991. (See Jan. 1, 1991, for other references.) The Nelson Farrar refinery construction cost indexes are inflation indexes, while the operating indexes incorporate a productivity which shows improvement with experience and the increasing size of operations. The refinery construction wage indexes in the table show a steady advance over the 2 year