The price index of construction materials rose 12.25 per cent in January on an annual basis; an increase of 1.79% compared with December according to the Cyprus Statistical Service.
Compared to January 2022, the Cyprus Statistical Service reports price rises in metallic products of 7.77%, minerals 27.15%, products of wood, insulation materials, chemicals and plastics 10.49%, mineral products 14.66% and electromechanical products 8.75%.
The index, which rose to 136.01 in January, is the highest on record since 2006 when the Statistical Service started to record the data.
The index has risen significantly over the past three years.
Compared to the 2020 average, in January 2023 minerals had increased by 34.9%, mineral products by 22.2%, products of wood, insulation materials, chemicals and plastics by 32.7%, metallic products by 47.7% and electromechanical products by 25.6%.
Cumulatively, since 2020 the price index in January 2023 is up 34.7%, 21.4% compared to 2021 and 3.6% compared to 2022.
Although the growth rate is declining, prices remain at record highs.
