The Construction Price Index which stood at 133.5 in the fourth quarter of 2023 increased by 2.4% to reach 136.7 in the first quarter of 2024.

During the first quarter of 2024, increases were noted in the “Labour » (8.5%) and “Materials » (1.0%) sub-indices.

The increase of 1.0% in the “Materials » sub-index is explained by:
(i) increases in the prices of premixed mortar (7.1%), tiles and granite (1.6%) and plumbing (2.0%), partly offset by a decrease in the prices of steel bars (-0.2%) in January 2024;
(ii) increases in the prices of aggregate (0.5%), premixed concrete (2.8%), premixed mortar (0.8%) and timber carpentry (2.2%), partly offset by decreases in the prices of steel bars (-0.5%) and tiles and granite (-1.4%) in February 2024; and
(iii) increase in the prices of steel bars (0.6%) in March 2024.