During the second trimester of 2014, prices in the construction sector increased slightly, according to the official report published by Insitute of Statistics. The change of the annual index in the construction sector is estimated to be 0.2%, based on the analysis made by the Construction Cost Index, considering that a year before this change was 1.0%.
Regarding the increase of prices for the expenditures in buying materials, the highest increase of prices has been noticed for the contruction materials, at about 0.7%, while the main decrease in prices has been reported for electric and communication materials, with 0.6%. Even the transport and wages expenditures increased at a low percentage, compared to the same period of the previous year.
The Construction Cost Index measures the performance of the construction materials prices, of the labor force wages and other capital expenditures, used for the construction of a building of 8-10 storeys.
Considered as a very important economic indicator for the construction sector, the Construction Cost Index serves as a deflator for the calculation and the estimation of the Gross Domestic Product and various indexes of volume.
The CCI is also used for various analysis and reports by governmental institutions, Central Bank of Albania, World Bank, Non Governmental Organizations, International Monetary Fund.
News source: ATA
Photo credits: ATA
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