In February 2021, construction cost index (CCI) decreased by 0.03% compared with previous month yet increased by 27.59% compared with the same month of the previous year.
Despite the rising global commodity prices, the appreciation in TL since November had shielded the spike in consruction costs. The change of central bank governor in mid-March that had trigerred anouther round of TL depreciation will mean the flat mom price change in the CCI wil not prevail.
Material index decreased by 0.04% and labour index decreased by 0.02% compared with the previous month. However, material index increased by 31.64% and labour index increased by 19.73% compared with the previous year.
Construction cost index annual rate of change (%), February 2021
Building construction cost index increased by 0.12% compared with previous month and increased by 28.23% compared with the same month of the previous year.
Material index increased by 0.19% and labour index decreased by 0.04% compared with the previous month. Also material index increased by 32.61% and labour index increased by 20.05% compared with the previous year.
Construction cost index for civil engineering decreased by 0.56% compared with previous month altough it increased by 25.38% compared with the same month of the previous year.
Material index decreased by 0.81% and labour index increased by 0.05% compared with the previous month. Also material index increased by 28.55% and labour index increased by 18.54% compared with the previous year.