Construction prices up 6.5%, production rises 5.5%

The Output Prices Index in Construction for the first quarter of 2023 reached 133.02 units (base year 2015=100,00), recording an increase of 6.5%, compared to the same quarter of the previous year, according to data published by the Cyprus Statistical Service on Wednesday. For the same period, Index in Production in Construction went up 5.5%.

According to the official data, by type of project, an increase of 3.4% was observed for buildings and of 17.9% for civil engineering projects in the first quarter of 2023 compared to the corresponding quarter of 2022.

Comparing with the previous quarter, the Index recorded a decrease of 1.3% in the first quarter of 2023.

At the same time, the Index of Production in Construction during the first quarter of 2023 reached 184.13 units (base year 2015=100,00), recording an increase of 5.5% over the first quarter of 2022.

By type of project, an increase of 6.2% was observed for buildings and of 0.7% for civil engineering projects in the first quarter of 2023 compared to the corresponding quarter of 2022.