Prices in construction materials continued in March their downward trajectory with the Price Index of Construction Materials registering a reduction of 1.70% year on year, marking an annual reduction for the eight consecutive month.
According to data released on Thursday by the Statistical Service of Cyprus, the Price Index of Construction Materials for March 2024 reached 117.19 units (base year 2021=100), recording a marginal rise of increase of 0.21% compared to the previous month.
Compared to the same month of the previous year, the index recorded a decrease of 1,70%. The Index is registering annual reduction since August 2023 showing signs of disinflation in construction materials.
According to CyStat, by main commodity category, decreases were recorded in metallic products with 6.45% and products of wood, insulation materials, chemicals and plastics with 0.59%).
Annua percentage gains were registered in minerals with 1.22%, electromechanical products with 0.48% and mineral products with 0.46%.
For t
he period January-March 2024, the index was down by 2.05% compared to the corresponding period of 2023, CyStat added.
According to CyStat, the Price Index of Construction Materials shows the evolution of the cost of construction materials incurred by the contractor.
Source: Cyprus News Agency