Turkiye’s Statistics Institute Releases May Construction Cost Index Data
In May, Turkiye’s construction cost index saw a monthly increase of 1.11% and a staggering annual rise of 72.78%. The Turkish Statistical Institute (TurkStat) unveiled the latest figures for the construction cost index for May.
Compared to the previous month, the index rose by 1.11% in May and surged by 72.78% compared to the same month last year.
On a monthly basis, the material index increased by 1.25% and the labor index by 0.84%. Year-on-year, the material index rose by 58.75% and the labor index by 108.93%.
The building construction cost index showed a monthly increase of 1.36% and an annual rise of 71.51%. Monthly, the material index saw a 1.69% increase and the labor index a 0.75% increase. Yearly, the material index increased by 56.8% and the labor index by 108.25%.
For non-building structures, the construction cost index rose by 0.3% monthly and 77.1% annually. While the material index decreased by 0.08% compared to the previous month, the labor index increased by 1.17%. Compared to the same month last year, the material index rose by 65.09% and the labor index by 111.44%.
Source: AA / Prepared by Irem Yildiz