Construction cost index increased by 2.2 percent monthly and 65.93 percent annually in October

The Turkish Statistical Institute (TÜİK) has announced the construction cost index data for October.

Accordingly, the index rose by 2.2 percent compared to the previous month and by 65.93 percent compared to the same month of the previous year in October.

On a monthly basis, the material index increased by 2.43 percent, and the labor index increased by 1.67 percent.

On an annual basis, the material index showed an increase of 52 percent, and the labor index showed an increase of 113.47 percent.

The building construction cost index rose by 2.45 percent compared to the previous month and by 65.02 percent compared to the same month of the previous year in October. In October, the material index increased by 2.82 percent and the labor index by 1.61 percent compared to the previous month. Compared to the same month of the previous year, the material index recorded an increase of 50.28 percent, and the labor index recorded an increase of 113.31 percent.

The construction cost index for non-building structures rose by 1.43 percent compared to the previous month and by 68.88 percent compared to the same month of the previous year in October. For these structures, the material index increased by 1.28 percent and the labor index by 1.85 percent compared to the previous month. Compared to the same month of the previous year, the material index showed an increase of 57.3 percent, and the labor index showed an increase of 114.04 percent.

News Source: 12punto