TIRANA, June 9 /ATA/ The Institute of Statistics INSTAT reported that construction costs increased by 5% in the first quarter of 2022.
According to INSTAT, the annual change of the Construction Cost Index in the first quarter 2022 is 5.0%, while last year it was 0.6%.
If compared to the same quarter of last year, the largest increase in prices is observed in the group “Energy costs” by 11.7%, followed by the groups “Material costs” by 6.0%, “Machinery costs” by 3 , 8%, “Other costs” by 3.5%, “Wage expenses” by 2.5% and “Transportation expenses” by 2.1%.
Within the group “Material costs”, the indices of the subgroup “Hydro-sanitary materials and ventilation” marked the highest increase by 6.8%, followed by the group “Construction materials” by 6.5% and “Electrical materials and communication” by 3.5%.
The prices of raw materials significantly increased because of the high demand after the pandemic and the situation created by the war in Ukraine. These effects are transferred to production costs and final prices, in construction. /j.p/p.s./
