The Price Index of Construction Materials in Cyprus rose to 118.89 units in January 2026, with 2021 acting as the base year set at 100 units, according to figures by the Cyprus Statistical Service (Cystat).

This figure represents a slight increase of 0.12 per cent when compared to the previous month of December 2025.

Compared to the same month of the previous year, the index recorded an increase of 1.09 per cent.

The Price Index of Construction Materials shows the evolution of the cost of construction materials incurred by the contractor, the Statistical Service said.

By main commodity category, the most significant annual increases were observed in minerals at 2.91 per cent and electromechanical products at 2.55 per cent.

Other categories seeing growth included products of wood, insulation materials, chemicals and plastics at 1.19 per cent, alongside mineral products which rose by 0.97 per cent.

A decrease of 0.49 per cent was recorded in metallic products, the report noted.

Specific sub-categories showed more volatile movement, with mineral aggregates jumping 8.34 per cent and stones increasing by 4.97 per cent since January 2025.

Electrical fixtures saw a notable rise of 4.65 per cent, while iron and steel products dropped by 1.73 per cent.

Ceramics and cements also saw year on year declines of 1.47 per cent and 1.38 per cent respectively.

The price indices are based on the year 2021, meaning that they show the evolution of the price of a certain material in relation to its average price in 2021, the methodological information explained.

In the base year, the average of the price indices for the twelve months is 100.

A price index of 101.56 for a material in a certain month implies that the price has gone up by 1.56 per cent in relation to its average price of 2021, the report stated.

The aggregated price index of materials is a weighted average of the price indices of the various materials in the sample.

The weights used reflect the share of each material to the total expenditure for construction materials incurred by the contractors and are derived from the value of imports and local production for that material in the base year 2021, the department noted.

Prices of materials used in construction are collected on a monthly basis based on a sample of products and suppliers.

The reference date for the prices collected is the 15th each month and prices are valued excluding VAT.

Finally, the service explained that the Construction Costs Index is limited to new residential buildings, excluding residencies for communities.