Construction material prices nearly 20 per cent higher than last June

The Construction Materials Price Index increased by 19.42 per cent year-on-year in June, reflecting the rising costs in construction, as well as the resulting price increases in the sector, according to a report by the Cyprus Statistical Service (Cystat) released on Monday.

Based on the data, compared to May 2022, the index reached 134.30 units (based on 2015=100) in June, marking an increase of 0.93 per cent compared to the previous month.

The index has been on a continuous upward trend since December 2020, although there was some respite in June, with a small decline in the annual percentage change.

The index recorded an annual increase of 21.81 per cent at the end of the previous month.

By main product category, increases were recorded in metal products (26.95 per cent), wood, insulating, chemical and plastic products (18.50 per cent), minerals (15.11 per cent), mineral products (13.98 per cent) and electromechanical items (11.95 per cent).