12° Nicosia,
18 July, 2024

Price Index of Construction Materials increases by 17.1% in December 2021

According to Cyprus Statistical Service

Source: CNA

The Price Index of Construction Materials had a 17.1% increase in December 2021, compared to December 2020, reaching 119.66 units (base year 2015=100), according to data by the Statistical Service of Cyprus.

The largest increase, 30.17%, was recorded in metallic products. Particularly, iron and steel products had an increase of 40.45%, compared to December 2020.

An increase of 19.04% was noted in products of wood, insulation materials, chemicals and plastics. Electromechanical products had a rise of 13.02%, mineral products 5.41% and minerals 4.75%, compared to the same month of the previous year.

The yearly Price Index of construction materials rose to 112.6 units in 2021 (base year 2015=100).

For the period January-December 2021, the index recorded an increase of 10,98% compared to the corresponding period of 2020.

The increase of the index in 2021, compared to the previous year, is mainly due to the increase in the prices of the following materials: structural steel 46.56%, building iron 44.34%, copper pipes 32.78%, steel pipes 32.69%, iron rails 30.28%, structural grid 27.06%, bitumen asphalt 26.54%, wires and cables 24.64% and raw (sawn) timber 22.71%.

In comparison to November 2021, there was an increase of 0.63% in December 2021.

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