The House Construction Cost Index monitors labour costs in the construction industry and the cost of building materials. It does not include items such as overheads, profit, interest charges or land development. The index is applied on a national basis. The name change from the House Building Cost Index to the House Construction Cost Index was introduced in October 2006 when the method of assessing the materials sub-index was changed from pricing a basket of materials (representative of a typical 2 storey 3 bedroomed local authority house) to the CSO Table 3 Wholesale Price Index. The new index does maintain continuity with the old HBCI.