Construction Price Index – 1st Quarter 2019

The publication presents a new series of monthly Construction Price Indices for the period January 2018 to March 2019 with first quarter 2018 as base period.

The Construction Price Index which stood at 100.5 in the fourth quarter of 2018, registered an increase of 0.7% to reach 101.1 in the first quarter of 2019.

During the first quarter of 2019, increases were noted in the following sub-indices: “Labour” (1.9%), “Hire of Plant” (1.7%) and “Materials” (0.2%). The “Transport” sub-index remained unchanged.

The increase in 1.9% in the “Labour” sub-index is due to higher wages following the 2019 salary compensation. The increase of 1.7% in the “Hire of Plant” sub-index is due to higher rates for hiring of machinery. Changes in the “Materials” sub-index were mainly due to:
(i) increases in the prices of cement in March (5.7%);
(ii) increases in the prices of premixed mortar in March (0.8%);
(iii) increases in the prices of hardcore (remplissage) materials in January (1.3%);
(iv) increases in the prices of timber carpentry in January (1.0%);
(v) increases in the prices of granite in January (0.3%); partly offset by
(vi) decreases in the prices of steel bars in March (0.5%).