Cyprus’ construction materials price index for August 2024 recorded a slight decrease of 0.08 per cent when compared to the same month in 2023.

According to a report released by the Cyprus Statistical Service (Cystat), the index reached 117.68 units, with 2021 set as the base year at 100 units.

However, on a month-on-month basis, the index recorded an increase of 0.03 per cent compared to July 2024. 

In particular, year-on-year, metallic products saw a drop of 3.50 per cent, while electromechanical products experienced an increase of 3.72 per cent.  

Meanwhile, products of wood, insulation materials, chemicals, and plastics posted a year-on-year rise of 1.17 per cent, with minerals and mineral products showing more modest annual gains of 0.96 per cent and 0.66 per cent, respectively. 

Moreover, in terms of the period from January to August 2024, the general index reflected a decrease of 1.28 per cent compared to the same period in 2023.  

Notably, iron and steel products experienced the steepest year-on-year decline, falling by 4.96 per cent.  

Additionally, aluminium and other metal products also declined, down by 0.38 per cent year-on-year. 

In contrast, the report showed that increases were reported in electromechanical goods, with electrical goods rising by 6.62 per cent on an annual basis, while heating and cooling equipment saw a year-on-year increase of 3.24 per cent. 

Within the mineral category, stone prices saw a noticeable year-on-year increase of 1.64 per cent.

The cement and mineral aggregates categories recorded rises, with prices going up by 0.58 per cent and 0.93 per cent, respectively.

Finally, in the broader category of wood products, insulation materials, chemicals, and plastics recorded the most substantial annual increase, rising by 3.61 per cent, whereas insulation materials posted a slight year-on-year decline of 0.78 per cent.