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Construction Material Price Indices January 2015 - August 2023

The composite index for construction materials accelerated to an annual increase of 6.0 percent in August 2023,  surpassing the headline inflation rate of 4.8 percent. This brings the average increase in the first eight months to 6.6 percent, compared to 12.3 percent in 2022.   Materials that supported the acceleration in construction cost inflation include cement, construction tyres, ready-mixed concrete, ceiling boards, and electrical cables.

The composite index (Contract price adjustments provision or CPAP) for domestic buildings accelerated to an annual increase of 4.2 percent and 3.9 percent for commercial and industrial buildings.

Source: Stats SA, Industry Insight Calculation

 

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