In the first three months of this year, construction prices rose by two percent compared to the first quarter of 2023.
Compared to the first quarter of 2023, construction prices increased by two percent in the first three months of this year; compared to the previous quarter, the increase was 1.2 percent. However, inflation is at least below the level of general inflation.
To put this in perspective, in April headline inflation rose 3.5 percent year-on-year, in March it was 4.1 percent and before that it was 4.3 percent. The construction price index for all residential construction rose to 136.9 points in the first quarter of 2024, 2.5 percent above the level of the previous year’s quarter and 1.9 percent above the previous quarter.
In the construction sector, increased prices for construction services such as natural and artificial stone work, coatings on wood, metal, masonry, plaster, concrete, lightweight panels and electrical installations and gas and water installations contributed to the price increases. Civil engineering prices rose in this year’s quarter to 104.1 index points, an increase of one percent compared to the same quarter last year and 0.2 percent compared to the previous quarter, CBS announced on Friday.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
