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12° Nicosia,
24 May, 2024
 
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Building materials at their highest since 1986

Cumulatively, since 2020 the price index in January 2023 is up 34.7%

Source: CNA

The Price Index of Construction Materials for January 2023 reached 136.01 units (base year 2015=100), recording an increase of 12.25% compared to the same month of the previous year, according to data published by the Statistical Service on Friday. The price index for construction materials in January 2023 is at its highest point since 1986 when data are kept by the Statistical Service.

By main commodity category, compared with January 2022, in January 2023 increases were recorded in minerals by 27.15%, mineral products by 14.66%, products of wood, insulation materials, chemicals and plastics by 10.49%, electromechanical products by 8.75% and metallic products by 7.77%.

Compared to the previous month, in January 2023 the price index of construction materials rose by 1.79%.

The index, which rose to 136.01 in January, is at its highest point since 1986 when data started being kept by the Statistical Service. With 2015 as a base year (=100), the increases over the last three years in the main product categories have increased significantly.

Compared to the average of 2020, in January 2023 minerals increased by 34.9%, mineral products by 22.2%, products of wood, insulation materials, chemicals and plastics by 32.7%, metallic products by 47.7% and electromechanical products by 25.6%.

Cumulatively, since 2020 the price index in January 2023 is up 34.7% compared to 2020, 21.4% compared to 2021 and 3.6% compared to 2022. Although the growth rate is declining, prices are still at record highs.

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