Construction cost index increased in February

The Turkish Statistical Institute (TUIK) has announced the construction cost index data for February.

Accordingly, the index rose by 3.41 percent compared to the previous month and by 70.05 percent compared to the same month of the previous year in February.

On a monthly basis, the material index increased by 4.46 percent, and the labor index increased by 1.48 percent.

On an annual basis, the material index recorded an increase of 54.82 percent, and the labor index recorded an increase of 108.98 percent.

The building construction cost index rose by 3.28 percent compared to the previous month and by 68.29 percent compared to the same month of the previous year in February. In February, compared to the previous month, the material index increased by 4.38 percent and the labor index by 1.34 percent. Compared to February 2023, the material index showed an increase of 52.1 percent and the labor index an increase of 108.35 percent.

The construction cost index for non-building structures rose by 3.85 percent compared to the previous month and by 76.02 percent compared to the same month of the previous year in February. For these structures, the material index increased by 4.7 percent compared to the previous month, while the labor index recorded an increase of 2 percent. On an annual basis, the material index was recorded as an increase of 63.66 percent, and the labor index as an increase of 111.33 percent.

News Source: AA