The construction cost index increased by 2% year-on-year in March, mainly driven by higher salaries in the sector and rising fuel and electricity prices, Geostat said.
The data shows the increase was largely due to a 2.7% rise in the average monthly nominal wages of employees in construction, contributing 1.35 percentage points to the index, and a 4.3% rise in transport, fuel and electricity costs, which added 0.62 percentage points.
Compared to February 2026, the construction cost index rose by 1.9% in March, mainly due to a 7.7% increase in transport, fuel and electricity costs, contributing 0.94 percentage points.
By segment, in March, the residential construction index rose by 0.4% month-on-month and 0.2% year-on-year, while the non-residential segment increased by 2.1% and 3.2% respectively. The civil construction segment grew by 3.2% compared to the previous month and by 3.3% compared to the same month last year.
Overall, the construction cost index is 26% higher compared to February 2022.
