Construction costs continued its steady rise in June

The Price Index of Construction Materials continued its rising trend in June, reflecting the increased cost borne by contractors and rising prices in the construction sector.

According to data released by the Statistical Service of Cyprus (Cystat), the Index in June 2022 reached 134.30 units (base year 2015=100), recording an increase of 0.93% compared to the previous month.

Compared to the same month of the previous year, the index recorded an increase of 19,42%. The Index has been registering continued annual increases since December 2020, although June’s increase was somewhat lower compared with May’s 21.81%.

By main commodity category, increases were recorded in metallic products (26.95%), products of wood, insulation materials, chemicals and plastics (18.50%), minerals (15.11%), mineral products (13.98%) and electromechanical products (11.95%), Cystat added.