Annual Change +19.08%
The Construction Materials Price Index for the month of March 2022 stood at 125.65 points (based on 2015=100), an increase of 2.22% compared to the previous month.
Compared to the same month last year, the index recorded an increase of 19.08%. By major product category, increases were recorded in metal products (31.60%), wood, insulation, chemical and plastic products (20.87%), electrical machinery (14.79%), minerals (7.38%) and mineral products (6.68%).
| Table |
[TD] [/TD]
[TR] [TD]
Code
[/TD] [TD]Product categories
[/TD] [TD]Index March 2022
(2015=100)
[/TD] [TD]Percentage change
(%)
[/TD] [/TD] [/TR] [TR] [TD]Mar 2022 /
Feb 2022
[/TD] [TD]Mar 2022 /
Mar 2021
[/TD] [TD]Jan-Mar 2022 / Jan-Mar 2021
[/TD] [/TD] [/TR] [TR] [TD]1
[/TD] [TD]Minerals
[/TD] [TD]107,47
[/TD] [TD]
1.44
[/TD] [TD]7.38
[/TD] [TD]6,19
[/TD] [/TR] [TR] [TD]11
[/TD] [TD]Inert minerals
[/TD] [TD]103.32
[/TD] [TD]0.00
[/TD] [TD]5.44
[/TD] [TD]5,58
[/TD] [/TR] [TR] [TD]12
[/TD] [TD]Short
[/TD] [TD]113.31
[/TD] [TD]2.84
[/TD] [TD]11,95
[/TD] [TD]9.38
[/TD] [/TR] [TR] [TD]13
[/TD] [TD]Stones
[/TD] [TD]103.59
[/TD] [TD]0,73
[/TD] [TD]3,25
[/TD] [TD]2,76
[/TD] [/TD] [/TR] [TR] [TD]
2
[/TD] [TD]Mineral products
[/TD] [TD]106,51
[/TD] [TD]
0.26
[/TD] [TD]6.68
[/TD] [TD]6,74
[/TD] [/TR] [TR] [TD]21
[/TD] [TD]Mortar Products
[/TD] [TD]105.17
[/TD] [TD]0.23
[/TD] [TD]5.71
[/TD] [TD]5,56
[/TD] [/TR] [TR] [TD]22
[/TD] [TD]Ceramics
[/TD] [TD]110,79
[/TD] [TD]0,35
[/TD] [TD]9,71
[/TD] [TD]10,53
[/TD] [/TD] [/TR] [TR] [TD]
3
[/TD] [TD]Wood products, insulation, chemicals and plastics
[/TD] [/TD] [TD]123.06
[/TD] [TD]1.66
[/TD] [TD]20.87
[/TD] [TD]20,21
[/TD] [/TR] [TR] [TD]31
[/TD] [TD]Wood products
[/TD] [TD]125,42
[/TD] [TD]1,58
[/TD] [TD]25,31
[/TD] [TD]24,11
[/TD] [/TR] [TR] [TD]32
[/TD] [TD]Insulating materials
[/TD] [TD]100,96
[/TD] [TD]0,48
[/TD] [TD]7,34
[/TD] [TD]8,50
[/TD] [/TD] [/TR] [TR] [TD]33
[/TD] [TD]Chemical products
[/TD] [TD]119,33
[/TD] [TD]2,91
[/TD] [TD]13.79
[/TD] [TD]11.65
[/TD] [/TD] [/TR] [TR] [TD]34
[/TD] [TD]Plastic articles
[/TD] [TD]130,99
[/TD] [TD]1,47
[/TD] [TD]19,59
[/TD] [TD]21,04
[/TD] [/TR] [TR] [TD]
4
[/TD] [TD]
Metal products
[/TD] [TD]154,19
[/TD] [TD]
4.20
[/TD] [TD]31.60
[/TD] [TD]28,30
[/TD] [/TR] [TR] [TD]41
[/TD] [TD]Iron and steel products
[/TD] [TD]172.96
[/TD] [TD]6.61
[/TD] [TD]38,99
[/TD] [TD]34.24
[/TD] [/TR] [TR] [TD]42
[/TD] [TD]Aluminium and other metal products
[/TD] [TD]129,91
[/TD] [TD]0,31
[/TD] [TD]20,57
[/TD] [TD]19,50
[/TD] [/TR] [TR] [TD]
5
[/TD] [TD]electromechanicalequipment
[/TD] [TD]115,95
[/TD] [TD]1,18
[/TD] [TD]14,79
[/TD] [TD]14,79
[/TD] [/TD] [/TR] [TR] [TD]51
[/TD] [TD]Electrical hardware
[/TD] [TD]138,83
[/TD] [TD]3,00
[/TD] [TD]21,72
[/TD] [TD]23,64
[/TD] [/TR] [TR] [TD]52
[/TD] [TD]Heating and cooling equipment
[/TD] [TD]89,79
[/TD] [TD]0,00
[/TD] [TD]2,81
[/TD] [TD]1,43
[/TD] [/TR] [TR] [TD]53
[/TD] [TD]Other electromechanical equipment
[/TD] [TD]115,93
[/TD] [TD]0,00
[/TD] [TD]15,90
[/TD] [/TD] [TD]15.33
[/TD] [/TR] [TR] [TD][/TD] [TD]
General Index
[/TD] [TD]125,65
[/TD] [TD]
2.22
[/TD] [TD]19.08
[/TD] [TD]17,68
[/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
The price indices are based on 2015, i.e. they show the change in the price of a material compared to its average price in 2015. In the base year, the twelve-month average of the price indices is 100.00. For example, if the price index of a material for a given month is 101.57, this means that the price has increased by 1.57% compared to the average price in 2015.
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 (2015).
The index published on the Statistical Office's website 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. However, the Construction Cost Index refers only to new dwellings.
For more information:
Statistical Service Portal, under Construction
Predefined Tables (Excel)
Contact Evi Kalogirou Dimitriou
No. Tel.: +357 22 602168
No. Fax: +357 22 605026
Tel. Address: ekalogirou@cystat.mof.gov.cy
Contents of this article including associated images are belongs PIO
Views & opinions expressed are those of the author and/or PIO
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