Construction materials prices up faster than inflation

The Price Index of Construction Materials for February 2007 reached 135.11 (base year 2000 = 100.00), recording an increase of 0.67% over the previous month, according to the Statistical Service.

For the period January-February 2007, the index recorded an increase of 4.4% over the corresponding period of the previous year. This compares with consumer price inflation of only 1.6% in the same period.

Construction materials prices have an impact on property prices. The BuySell Home Price index showed accelerating property prices in the first two months of the year, rising by an average 9% over the first two months of 2006.

 

Fiona Mullen