Prices in Construction recorded a significant annual increase in 2022 of the order of 11.3%. According to the Statistical Service, the Output Prices Index in Construction for the fourth quarter of 2022 reached 134.71 units (base year 2015=100.00), recording an increase of 4.0% over the third quarter of 2022. Compared to the same quarter of the previous year, the index increased by 11.1%. By type of project, an increase of 9.1% was observed for buildings and of 18.1% for civil engineering projects in the fourth quarter of 2022 compared to the corresponding quarter of 2021. For the period January-December 2022, the overall index registered an increase of 11.3% over the corresponding period of 2021. An increase of 11.8% was recorded in the index for buildings and of 9.6% in the index for civil engineering projects.
Source: Cyprus News Agency