Construction prices on the rise: Statistics Mauritius
Mauritius’ construction price index saw a rise of 1.4% in the first quarter of 2015 to hit 113.9 compared to 112.3 for the last quarter of 2014. (Image: layher.com)
The increase in prices of cement by 0.7%, timber carpentry by 0.6% and sanitary installation by 0.3% were the main components leading to the higher construction price index for the quarter ended March 2015 as per the Statistics Mauritius report released on 22 April 2015.
In February and January 2015, the construction price index stood at 113.8 and 113.7 points each respectively, which was relatively higher than the December 2014 index upon higher wages following the 2015 salary compensation, coupled with an increase of 2.3% in the prices of ceramic tiles, partly offset by a decrease of 0.1% in the prices of steel bars.
In February 2015, it may be noted that, relative to January 2015, the index dropped marginally to 113.7 as a result of a further decrease in the prices of steel bars by 1.1% and lower prices of metal openings.
Compared to the corresponding months of the previous year, the index shows overall increases of 1.0% for both January 2015 and February 2015 and 1.1% for March 2015.
During the first quarter of 2015, in terms of the sub-indices, there was no change registered in the Hire of Plant and Transport.
The Labour sub-index increased from 114.3 in December 2014 to 119.5 upon the salary compensation of 2015 and the Materials sub-index recorded increases upon higher prices of cement, timber carpentry and sanitary installation.
Moving to the category of input for the quarter ended March 2015, compared to the previous quarter of 2014, labour was the only segment recording changes, with an increase of 4.5% while the other segments of materials, hire plant and transport were flat.
Finally, to conclude the trend of the construction price index depicts that the largest increase between April 2014 to March 2015 was that in January 2015, where this rise was attributed to the increases in wages. However, in 2014 from April to December, the trend was almost always going down, where a slight increase was recorded only in October 2014, as shown below: