The Construction Cost Index (CCI) saw a 9.10% monthly increase in January 2025, while rising 26.61% year-over-year (YoY). The surge was primarily driven by labor costs, which rose significantly compared to materials.
- Material Index: Up 1.96% MoM, 22.39% YoY
- Labour Index: Up 23.58% MoM, 34.37% YoY
Building Construction Costs Up 27.09% Annually
The Building Construction Cost Index climbed 9.39% compared to the previous month and surged 27.09% YoY.
- Material Index: Up 1.91% MoM, 23.28% YoY
- Labour Index: Up 24.14% MoM, 33.76% YoY
Non-Building Structures Construction Costs Up 25.05% YoY
The Construction Cost Index for Non-Building Structures rose 8.13% on a monthly basis and 25.05% YoY.
- Material Index: Up 2.14% MoM, 19.67% YoY
- Labour Index: Up 21.58% MoM, 36.65% YoY
The latest data highlights that labor costs continue to be the main driver of inflation in construction, significantly outpacing material cost increases.