1. The Construction Price Index, which stood at 114.1 as at December 2016, increased to 114.6 in January 2017. Thereafter, the index remained at the same level up to March 2017.
2. On a monthly basis, the index registered an increase of 0.4% in January 2017 and no change was noted during the months of February and March 2017.
3. The rise from 114.1 in December 2016 to 114.6 in January 2017 was the result of an increase of 1.2% in labour costs following the 2017 salary compensation and an increase of 0.1% in the prices of electrical installation partly offset by a decrease of 0.1% in the prices of metal openings. In February and March 2017 the index remained at 114.6.
4. As a consequence of the above changes, the “Labour” sub-index increased by 1.2% or 1.5 points in January 2017 and remained unchanged during the months of February and March 2017. No change was registered for “Hire of plant”, “Materials” and “Transport” sub-indices during the first quarter of 2017.