Construction material prices increased by 2.91% in 2023

Construction material prices increased by 2.91% in 2023

In 2023, the Construction Materials Price Index

increased by 2.91% compared to

the corresponding period in 2022, according to the Statistical Service of Cyprus.

This rise in the index during 2023, in comparison to the previous year, is primarily attributed to the increases in the prices of the following materials: Portland cement (39.39%), plates, mosaics, and concrete bricks (14.61%), aggregates and sand mix for road construction (13.89%), crushed gravel for concrete (12.63%), and ready-mixed concrete (12.13%).

On the contrary, the prices of certain materials decreased in comparison to 2022. The main ones among them are: construction iron (-18.66%), construction mesh (-12.44%), and construction steel (-12.27%).

Additionally, the Index for the month of December 2023 reached 134.23 units (based on 2015=100), showing an increase of 0.14% compared to the previous month.

In comparison to the same month of the previous year, the index recorded an increase of 0.45%. By main product category, increases were observed in minerals (13.98%), mineral products (5.80%), and wood, insulation materials, chemicals, and plastics (0.45%), while decreases were noted in metallic products (-7.39%) and electromechanical items (-0.14%).

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