Construction Price Index, 4th Quarter 2022
Highlights
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1. The Construction Price Index which stood at 131.6 in the third quarter of 2022 contracted by 0.4% to reach 131.1 in the fourth quarter of 2022. The monthly changes were as follows: October (-0.5%), November (-0.1%) and December (-0.3%).
2. During the fourth quarter of 2022, the sub-indices “Labour" and “Transport" remained unchanged. The sub-index for “Hire of plant" increased slightly (0.5%). -
3. The decrease of 0.6% in the “Materials" sub-index was mainly due to: -
- (i) decreases in the prices of steel bars (-2.0%) and aluminium openings (-6.0%), partly offset by increases in the prices of hardcore (remplissage) (4.7%), aggregate (6.4%) and block (10.1%) in October 2022;
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(ii) decrease in the prices of steel bars (-2.0%), partly offset by an increase in the prices of timber joinery (2.4%) in November 2022; and
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(iii) decreases in the prices of steel bars (-3.8%) and plumbing (-1.9%), partly offset by increases in the prices of timber carpentry (1.3%) and timber joinery (1.6%) in December 2022.
20 January 2023
