Cyprus construction materials price up 5.7% y/y in July

Construction materials prices rose by 5.7% compared with the same month of the previous year in July, with the price index of construction materials reaching 139.64, compared with 139.61 in June.

For the period January-July 2007, the index recorded an increase of 4.84% over the corresponding period of the previous year.

According to the breakdown provided by the Statistical Service CYSTAT, the main upward driver of prices in the first seven months of the year has been wood, stone and quarrying materials, prices of which rose by 6.0% in Jan-July, and industrial products, prices of which rose by 5.8%.

On the other hand, prices of petroleum products fell in the same period by 6.1% in the same period, presumably as a result of lower international oil prices in the first half of 2007 relative to the first half of 2006.