Construction costs continue downward trend

Costs of construction continued their downward trend in April, as the Price Index of Construction Materials for April 2005 reached 124.43 units (base year 2000=100.00) recording an increase of 0.61% over the previous month.

On a year-on-year basis, prices of construction materials rose by 6.2%. This was the fifth consecutive month in which the annual rate declined, having peaked at 11.6% year on year in November 2004.

For the period January-April 2005, the index recorded an increase of 7.78% over the corresponding period of the previous year.

In 2004 as a whole, construction materials prices rose by 8.2%, accelerating for most of the year until November.