Construction materials prices up 18% in July

The prices of construction materials were slightly up on a monthly basis in July but recorded a significant increase compared to the same month of the previous year, data released on Friday by the Cyprus Statistical Service show.

A small increase of 0.09% was recorded in the price index of construction materials for July 2022, compared to the previous month, while on an annual basis the increase was of the order of 17.52%.

In particular, according to CyStat press release, the price index reached 134.51 units (base year 2015=100).

Compared to the corresponding month of the previous year, the index, which shows the evolution of the cost of materials incurred by the contractor, recorded an increase of 17.52%.

According to the Statistical Service, by main commodity category, increases were recorded in metallic products (21.50%), minerals (16.35%), products of wood, insulation materials, chemicals and plastics (16.17%), mineral products (15.76%) and electromechanical products (11.90%).