Construction material prices drop for first time in 33 months

10:21 - 19 October 2023

Real Estate

The Index of Construction Materials in September recorded a small monthly decrease of 0.33% in September, marking its first annual reduction in almost three years CySTAT said.

The Price Index of Construction Materials for September 2023 reached 134.47 units (base year 2015=100), recording a decrease of 0.33% compared to the previous month.

Compared to the same month of the previous year, the index recorded a marginal decrease of 0.06%. This was the first annual reduction since November 2020.

By main commodity category, increases were recorded in minerals with 14.19%, mineral products with 6.51% and products of wood, insulation materials, chemicals and plastics rose by 0.75%.

According to Cystat, metallic products declined by 9.30% and electromechanical products by 0.09%.

For the period January-September 2023, the index recorded an increase of 3.88% compared to the corresponding period of 2022.

The Price Index of Construction Materials shows the evolution of the cost of construction materials incurred by the contractor.

Construction material prices drop for first time in 33 months

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