Output prices index in construction up in 4Q 2021

The Output Prices Index in Construction in the fourth quarter of 2021 has recorded an annual increase of 9.3%.

According to the Statistical Service of the Republic of Cyprus, the Output Prices Index in Construction for the fourth quarter of 2021 reached 121.29 units (base year 2015=100.00), recording an increase of 3,9% over the third quarter of 2021. Compared to the same quarter of the previous year, the index increased by 9.3%.

By type of project, an increase of 9.4% was observed for buildings and of 8.9% for civil engineering projects in the fourth quarter of 2021 compared to the corresponding quarter of 2020.

For the period January-December 2021, the overall index registered an increase of 5.2% over the corresponding period of 2020. An increase of 6.4% was recorded in the index for buildings and of 1.2% in the index for civil engineering projects.

Meanwhile, an annual decrease was recorded in the index of Production in Construction in the fourth quarter of last year.

According to the Statistical Service of the Republic of Cyprus, the Index of Production in Construction during the fourth quarter of 2021 reached 209.58 units (base year 2015=100.00), recording a decrease of 5.5% over the fourth quarter of 2020.

By type of project, a drop of 5.1% was observed for buildings and of 7.9% for civil engineering projects in the fourth quarter of 2021 compared to the corresponding quarter of 2020.

For the period January-December 2021, the overall index registered an increase of 3.4% over the corresponding period of 2020.

An increase of 2.5% was recorded in the index for buildings and of 9.7% in the index for civil engineering projects.