Cyprus construction material costs tick up in October
Cyprus’ Construction Material Price Index recorded a marginal increase in October 2024, according to a report released this week from the state’s statistical service. This follows a streak of eight consecutive months of construction material p
Cyprus’ Construction Material Price Index recorded a marginal increase in October 2024, according to a report released this week from the state’s statistical service.
This follows a streak of eight consecutive months of construction material price declines.
The index, which tracks the cost of materials incurred by contractors, reached 117.18 points in October, with 2021 acting as the base year and set at 100 points.
This marks a slight monthly decrease of 0.08 per cent compared to September 2024.
However, when compared to October 2023, the index showed a modest annual increase of 0.13 per cent.
Breaking down the data by major product categories, price increases were observed in electromechanical items (3.63 per cent), wood products, insulation materials, chemicals, and plastics (1.17 per cent), as well as mineral products (0.45 per cent).
Conversely, declines were recorded in metal products (-2.12 per cent) and minerals (-0.02 per cent).
For the period between January and October 2024, the index fell by 1.01 per cent compared to the same period in 2023, reflecting the broader trend of declining construction material prices throughout the year.
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