Wednesday April 19, 2023 | 6:55 p.m.
The cost of construction rose 4.5% in March, well below the retail inflation data, and registered a rise of 17.2% in the first three months of the year, the National Institute of Statistics and Censuses reported on Wednesday ( Indec).
In this way, the cost of construction increased 101% in the last 12 months.
Thus, INDEC concluded the dissemination of the indices related to the evolution of prices in March (it also released the wholesale prices), which began last Friday when it released the variation of the consumer price-Cost of Living index that marked a monthly increase of 7.7%, 21.7% in the quarter, and 104.3% year-on-year.
The general level of the construction cost index (ICC) in Greater Buenos Aires registered a rise of 4.5% compared to the previous month, as a consequence of the 5.5% rise in the “Materials” chapter, from 3, 5% in “Manpower” and 389% in the item “General expenses”.
Regarding the 101% rise in the Cost of Construction between March of this year and the same month of 2022, it was driven by a 104.6% rise in Materials and 90.8% in General Expenses, while the Labor value increased 99.5%.
