The annual rate of increase slowed to 11.2 percent in September 2022, from an average of 13.4 percent in 2021. However, the price trends are highly diverse between the different materials, as bricks increased by 1.8 percent, cement by 9.3 percent and steel slowed to an increase of 11.5 percent. The anticipated slowdown in building investment is likely to cap price increases over the medium term, with pressures coming mainly from commodity prices, oil price movements and exchange rates affecting imports.
