January 26, 2022

Sharp increase in the construction cost index and other indexes in the West Bank during 2021 - PCBS-

categories : banking

RAMALLAH, Tuesday, January 25, 2022 (WAFA) – A sharp increase of 6.05% in the Construction Cost Index (CCI) for residential buildings in the West Bank was recorded during 2021 compared with 2020, today said the Palestinian Central Bureau of Statistics (PCBS).

A similar sharp increase in the Construction Cost Index (CCI) for non-residential buildings of 5.88% and for skeleton buildings of 9.13% compared with 2020.

The overall Road Cost Index (RCI) in the West Bank increased in 2021 by 0.78%, for Water Networks Cost Index (WNCI) by 6.45%, and for Sewage Networks Cost Index (SNCI) by 0.47% compared with 2020.

In December 2021, the PCBS said CCI for residential buildings decreased by 0.28% compared with November due to a decrease in the prices of raw material by 0.37%, and the price of rental of equipment by 0.14%, while the prices of labor costs and wages slightly increased by 0.08%.

CCI for non-residential buildings also decreased by 0.26% during December compared with November due to the decrease in prices of raw material by 0.32%, and the price of rental of equipment by 0.12%, while the prices of labor costs and wages slightly increased by 0.08%.

Likewise, CCI for skeleton buildings decreased by 0.40% during December compared with November due to a decrease in the prices of raw material by 0.68%, and the price of rental of equipment by 0.14%, while the prices of labor costs and wages increased by 0.34%.

RCI increased by 0.03% during December 2021 compared with the previous month due to a rise in the price of labor costs and wages by 2.23%, while the price of rental of equipment decreased by 1.06%, the price of operating costs of equipment and maintenance decreased by 0.25%, and the price of raw materials decreased by 0.03%.

The WNCI decreased by 0.09% during December compared with November, water reservoirs cost decreased by 0.71%, while water networks cost index increased by 0.18% and SNCI increased by 0.17%, said the PCBS.

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