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Annual Change -0.36%
The Construction Materials Price Index for July 2024 stood at 117.65 points (based on 2021=100), an increase of 0.15% compared to the previous month.
Compared to the same month last year, the index recorded a decrease of 0.36%. By main product category, decreases were recorded in metal products (-3.94%) while increases were recorded in electrical machinery (3.35%), minerals (0.98%), mineral products (0.75%) and products of wood, insulation, chemicals and plastics (0.54%).
For the period January-July 2024, the index recorded a decrease of 1.45% compared to the corresponding period of 2023.
| Table |
[TD] [/TD]
[TR] [TD]
Code
[/TD] [TD] [TD]Product Categories
[/TD] [TD]Index July 2024
(2021=100)
[/TD] [TD]Percentage Change
(%)
[/TD] [/TR] [TR] [TD]Jul 2024/
Jun 2024
[/TD] [TD]Jul 2024 /
Jul 2023
[/TD] [TD]Jan-Jul2024
Jan-Jul 2023
[/TD] [/TR] [TR] [TD]1
[/TD] [TD]Minerals
[/TD] [TD]131,26
[/TD] [TD]0,24
[/TD] [TD]0,98
[/TD] [TD]1,17
[/TD] [/TD] [/TR] [TR] [TD]11
[/TD] [TD]Inert minerals
[/TD] [TD]125.91
[/TD] [TD]0,00
[/TD] [TD]0.93
[/TD] [TD]1.02
[/TD] [/TD] [/TR] [TR] [TD]12
[/TD] [TD]12
[/TD] [TD]Shortcuts
[/TD] [TD]140.73
[/TD] [TD]0.45
[/TD] [TD]0.58
[/TD] [TD]1,19
[/TD] [/TR] [TR] [TD]13
[/TD] [TD]Stones
[/TD] [TD]122.42
[/TD] [TD]0.10
[/TD] [TD]1.70
[/TD] [TD]1,26
[/TD] [/TR] [TR] [TD]2
[/TD] [TD]Mineral Products
[/TD] [TD]122,27
[/TD] [TD]0,01
[/TD] [TD]0,75
[/TD] [TD]0,76
[/TD] [/TD] [/TR] [TR] [TD]21
[/TD] [TD]Mortar Products
[/TD] [TD]121,87
[/TD] [TD]0,04
[/TD] [TD]0,69
[/TD] [TD]0,91
[/TD] [/TR] [TR] [TD]22
[/TD] [TD]Ceramics
[/TD] [TD]123,65
[/TD] [TD]-0,07
[/TD] [TD]0,97
[/TD] [TD]0,26
[/TD] [/TR] [TR] [TD]
3
[/TD] [TD]Wood products, insulation, chemicals and plastics
[/TD] [/TD] [TD]119,44
[/TD] [TD]0,13
[/TD] [TD]0,54
[/TD] [/TD] [TD]-0,12
[/TD] [/TR] [TR] [TD]31
[/TD] [TD]Wood products
[/TD] [TD]121,05
[/TD] [TD]0,19
[/TD] [TD]0,25
[/TD] [TD]-0,32
[/TD] [/TD] [/TR] [TR] [TD]32
[/TD] [TD]Insulating materials
[/TD] [TD]114,47
[/TD] [TD]0,00
[/TD] [TD]-0,99
[/TD] [TD]-0,95
[/TD] [/TR] [TR] [TD]33
[/TD] [TD]Chemical products
[/TD] [TD]112,30
[/TD] [TD]0,00
[/TD] [TD]3,61
[/TD] [TD]2,46
[/TD] [/TR] [TR] [TD]34
[/TD] [TD]Plastic articles
[/TD] [TD]123,32
[/TD] [TD]0,03
[/TD] [TD]0,45
[/TD] [TD]-0,86
[/TD] [/TR] [TR] [TD]4
[/TD] [TD]Metal products
[/TD] [TD]107,68
[/TD] [TD]0,44
[/TD] [TD]-3,94
[/TD] [/TD] [TD]-6,69
[/TD] [/TD] [/TR] [TR] [TD]41
[/TD] [TD]Iron and steel products
[/TD] [/TD] [TD]104,11
[/TD] [TD]0,03
[/TD] [TD]-5,48
[/TD] [TD]-8,23
[/TD] [/TR] [TR] [TD]42
[/TD] [TD]Aluminium and other metal products
[/TD] [TD]115.76
[/TD] [TD]1.28
[/TD] [TD]-0,65
[/TD] [TD]-3.33
[/TD] [/TR] [TR] [TD]
5
[/TD] [TD]electromechanical ee
[/TD] [TD]114,89
[/TD] [TD]
-0,35
[/TD] [TD]3,35
[/TD] [TD]2,06
[/TD] [/TD] [/TR] [TR] [TD]51
[/TD] [TD]Electrical Hardware
[/TD] [TD]128,83
[/TD] [TD]-0,84
[/TD] [TD]5,82
[/TD] [TD]3,89
[/TD] [/TR] [TR] [TD]52
[/TD] [TD]Heating and cooling equipment
[/TD] [TD]101,36
[/TD] [TD]-0,03
[/TD] [TD]3,26
[/TD] [TD]1,32
[/TD] [/TR] [TR] [TD]53
[/TD] [TD]Other electromechanical equipment
[/TD] [TD]112,96
[/TD] [TD]0,00
[/TD] [TD]0,24
[/TD] [TD]0,40
[/TD] [/TD] [/TR] [TR] [TD][/TD] [TD]
General Index
[/TD] [TD]117,65
[/TD] [TD]
0.15
[/TD] [TD]-0.36
[/TD] [TD]-1,45
[/TD] [/TR] [/TR]
Methodological Information
Definitions
The monthly Construction Materials Price Index shows the evolution of the cost of materials incurred by the contractor.
Data collection
To compile the index of prices of materials used in construction, the Statistical Office obtains prices (excluding VAT) from a sample of suppliers and a sample of materials with a reference date of the 15th of each month. Data are collected by telephone, email and fax.
Method of calculation
Price indices are based on the year 2021, i.e. they show the change in the price of a material in relation to its average price in 2021. In the base year, the average of the price indices over the twelve months is 100. For example, if the price index of a material for a given month is 101.56, this means that the price has increased by 1.56% compared to the average price in 2021.
To compile the overall material price index, the weighted average of the individual indices for the various materials is calculated. The weights used in the weighting reflect the share of each material in the total expenditure on construction materials and are derived from the value of imports and domestic production in the base year (2021).
The index published on the Statistical Office's web portal is for all construction projects. It is a component of the Construction Cost Index, which is sent and published by the Statistical Office of the European Union (Eurostat), in accordance with the provisions of Regulation (EU) 2019/2152 on European business statistics. The Construction Cost Index refers only to new dwellings.
For more information, interested parties can visit the Statistical Service Portal, under Construction, Update on Base Year Change, CYSTAT-DB (Database), Predefined Tables (Excel) or contact Ms. Evi Kalogirou Demetriou: Tel. E-mail: ekalogirou@cystat.mof.gov.cy .
Data for the base year 2021=100 are only available in the CYSTAT-DB Database.
(AF/NYAN)
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