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17-05-2024 16:16

Price Index of Construction Materials: April 2024

Annual Change -1,57%

The Price Index of Construction Materials for April 2024 reached 117,22 units (base year 2021=100), recording a marginal increase of 0,02% compared to the previous month.

Compared to the same month of the previous year, the index recorded a decrease of 1,57%. By main commodity category, decreases were recorded in metallic products (-7,23%) whereas increases were observed in electromechanical products (2,29%), minerals (1,02%), mineral products (0,63%) and products of wood, insulation materials, chemicals and plastics (0,23%).

For the period January-April 2024, the index recorded a decrease of 1,93% compared to the corresponding period of 2023.

  

 

Table

 

 

Code

Commodity Category

Index

April 2024

(2021=100)

PercentageChange

 (%)

Apr2024/

Mar 2024

Apr 2024/

Apr 2023

Jan-Apr 2024/

Jan-Apr 2023

1

Minerals

130,50

0,08

1,02

1,24

 

11

Mineral aggregates

125,91

0,00

1,09

1,09

 

12

Cements

139,39

0,00

0,88

1,48

 

13

Stones

121,81

0,28

1,19

0,98

 

2

Mineral products

122,05

0,19

0,63

0,84

 

21

Cement products

121,92

0,25

0,80

1,08

 

22

Ceramics

122,50

0,00

0,06

0,05

 

3

Products of wood, insulation materials, chemicals and plastics 

119,11

0,53

0,23

-0,53

 

31

Products of wood

120,96

0,76

0,25

-0,69

 

32

Insulation materials

114,25

0,44

-0,81

-1,12

 

33

Chemical products

110,53

0,00

2,11

1,56

 

34

Plastic products

123,19

-0,13

-0,81

-1,25

 

4

Metallic products

107,48

-0,62

-7,23

-7,70

 

41

Iron and steel products

104,78

-0,91

-8,94

-9,19

 

42

Products from aluminium and other metals

113,61

-0,03

-3,42

-4,37

 

5

Electromechanical products

113,65

0,28

2,29

1,00

 

51

Electrical fixtures

125,47

0,58

2,62

2,22

 

52

Heating and cooling equipment

101,66

0,00

3,56

-0,09

 

53

Other electromechanical products

112,57

0,14

0,66

0,50

 

 

General Index

117,22

0,02

-1,57

-1,93

 

 

Methodological Information

Definitions

The Price Index of Construction Materials shows the evolution of the cost of construction materials incurred by the contractor.

Collection of data

Prices of materials used in construction are collected on a monthly basis based on a sample of products and suppliers. The reference date for the prices collected is the 15th each month. Prices are valued excluding VAT. The data collection is carried out by telephone, fax or e-mail.

Compilation method

The price indices are based on the year 2021, meaning that they show the evolution of the price of a certain material in relation to its average price in 2021. In the base year, the average of the price indices for the twelve months is 100. For example, a price index of 101,56 for a material in a certain month implies that the price has gone up by 1,56% in relation to its average price of 2021.

The aggregated price index of materials is a weighted average of the price indices of the various materials in the sample. The weights used reflect the share of each material to the total expenditure for construction materials incurred by the contractors and are derived from the value of imports and local production for that material in the base year (2021).

The index disseminated on the web site of the Statistical Service covers all types of construction works. It forms a component of the Construction Costs Index, which is transmitted to and published by the Statistical Office of the European Union (Eurostat) in accordance to the provisions of Regulation (EU) 2019/2152 on European business statistics. The Construction Costs Index is limited to new residential buildings, excluding residencies for communities.

For more information, visit the CYSTAT Portal, subtheme Construction, Information on Change of Base Year, CYSTAT-DB (Online Database), Predefined Tables (Excel), or contact Ms Evi Kalogirou Demetriou at 22602168 or via e-mail at ekalogirou@cystat.mof.gov.cy.

Data for base year 2021=100 are available only in the CYSTAT-DB Online Database.

(AP/GS)