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Construction Price Index, 1
1. The Construction Price Index which stood at 119.5 in the fourth quarter of 2021 increased by 4.7% to reach 125.2 in the first quarter of 2022. The monthly increases were as follows: January (2.6%), February (1.0%) and March (2.6%).
2. During the first quarter of 2022, increases were noted in the following sub-indices: “Labour" (1.8%), “Hire of Plant" (1.3%), “Materials" (5.7%) and “Transport" (6.2%).
3. The increase of 5.7% in the “Materials" sub-index was mainly due to:
(i) increases in the prices of steel bars (1.1%), timber joinery (31.8%) and aluminium openings (8.6%) in January 2022;
(ii) increases in the prices of cement (10.3%), premixed concrete (2.6%), premixed mortar (0.4%), steel bars (0.6%), tiles and granite (2.0%) and sanitary installation (3.8%) in February 2022; and
(iii) increases in the prices of premixed concrete (1.3%), premixed mortar (1.7%), steel bars (10.0%), timber carpentry (6.8%), aluminium openings (5.9%), tiles and granite (1.1%), paint (2.2%), laminated flooring (7.9%), plumbing (0.7%) and electrical installation (2.2%) in March 2022.
22 April 2022