Rise in Palestinian Construction Cost Index

Date released by the Palestinian Central Bureau of Statistics (PCBS) has revealed an increase in the Construction Cost Index for residential buildings, non-residential buildings, skeleton buildings and a rise in the Road Cost index in March 2014.

Construction Cost Index for buildings

The Construction Cost Index for residential buildings totalled 100.53, increasing by 0.16% q/q in the West Bank in March 2014 compared to February 2014. The increase was attributed to a rise in labour wages by 0.38% and the price of equipment rental by 0.14% and raw materials by 0.03% during the reporting period.

The Construction Cost Index for non-residential buildings stood at 100.50, increasing by 0.17% q/q in the West Bank during the reporting period. The increase was again attributed to a rise in the price of labour wages, equipment rental and raw materials by by 0.38%, 0.23% and 0.06%, respectively.

The Construction Cost Index for skeleton buildings increased slightly by 0.08% in March 2014, reaching 100.42. The rise was due to a 0.15% increase in equipment rental and an 0.08% increase in raw materials compared to February 2014.

Road Cost Index (RCI)

The overall Road Cost Index (RCI) totalled 117.75 in March 2014, representing a 0.47% q/q increase, which can be attributed to a 1.83% rise in the operating costs of equipment and maintenance, a 0.65% improvement in labour wages, a 0.57% rise in raw materials and a 0.13% increase in rental of equipment during the reporting period.

Edited from various sources by Rosalie Starling

Read the article online at: https://www.worldcement.com/africa-middle-east/16052014/rise_in_palestinian_construction_cost_index_212/