Accordingly, the Construction Cost Index increased by 1.87% in May compared to the previous month and by 29.84% compared to the same month of the previous year.
In May, the material index rose by 1.77% m-o-m, while the labor index increased by 2.04%. On an annual basis, the material index was up 28.62% and the labor index increased by 32%.
Building construction costs increased by 28.56% year-on-year
The Building Construction Cost Index increased by 1.96% in May compared to the previous month and by 28.56% compared to the same month last year.
During this period, the material index for building construction rose by 2.08% month-on-month, while the labor index increased by 1.75%. On an annual basis, the material index climbed by 26.93% and the labor index by 31.34%.
Civil engineering construction cost index increased by 34.06%
The Construction Cost Index for civil engineering structures increased by 1.6% m-o-m and by 34.06% y-o-y in May.
For these structures, the material index rose by 0.85% and the labor index by 3.08% compared to the previous month. On an annual basis, the material index increased by 33.91%, while the labor index advanced by 34.34%.
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