TIRANA, June 5 /ATA/- In the first quarter 2019, the price index in construction fell by 0.3% compared to the previous quarter.
INSTAT notes that this quarter has seen “transport costs” groups drop 1.0%, “material expenses” 0.5% and “machinery expenditures” by 0.1%.
While compared to the corresponding period a year ago, INSTAT data showed that the Construction Price Index in the first quarter of 2019 grew slightly by 0.4%
Compared to the same quarter of the previous year, the index of “Other Costs” group grew by 1.6%, followed by “Expenditures for Wages” and “Machinery Expenditures” respectively by 1.3% and 1.0 %. Meanwhile, the “Transportation Expenditures” and “Material Expenses” groups decreased by 1.0% and 0.4% respectively.
The costing index in construction -IKN (for Housing) measures the fluctuations of construction materials, working force and other capital expenditures used in construction of template building (8-10 storied building.
IKN is an important economic indicator for construction sector. IKN, starting from the first quarter of 2011, is calculated by the new basket of materials. The weights of these materials were calculated based on the cost estimates for the construction of a multistoried building taken by construction firms. The new basket consists of 71 items, of which 66 are construction materials, while construction material prices are aggregated by 165 distributors and wholesalers of building materials.
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