TurkStat - Construction costs rose by 1.11 per cent mom and 72.78 per cent yoy in May
Istanbul, July 10 (Hibya) - Construction costs across Turkey rose 72.78 percent year-on-year and 1.11 percent month-on-month in May.
According to data released by the Turkish Statistical Institute (TurkStat), on a monthly basis, material prices rose by 1.25 percent and labour costs by 0.84 percent. In addition, on an annual basis, material prices increased by 58.75 percent and labour costs by 108.93 percent.
Building construction cost index increased by 1.36 percent compared with previous month and increased by 71.51 percent compared with the same month of the previous year. Material index increased by 1.69 percent and labour index increased by 0.75 percent compared with the previous month. Also material index increased by 56.80 percent and labour index increased by 108.25 percent compared with the previous year.
Construction cost index for civil engineering increased by 0.30 percent compared with previous month and increased by 77.10 percent compared with the same month of the previous year. Material index decreased by 0.08 percent and labour index increased by 1.17 percent compared with the previous month. Also material index increased by 65.09 percent and labour index increased by 111.44 percent compared with the previous year.
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