Construction Input Price Index Fourth Quarter 2019 To First Quarter 2021

Abstract

Construction Input Price Indices (CIPI) for the first quarter 2021 are hereby released. CIPI comprises of the Building Cost Indices, Civil Engineering Cost Indices and the Overall Construction Cost Indices as shown in table 1, 2 and 3 respectively. The indices are categorized into the four major construction inputs-: Materials, Equipment Labor, Transport and Fuels. The indices are used for analysis of price movements and price formation in the construction industry, for price escalation clauses in construction contracts, and for deflation of components of the national accounts. The data collection outlets are spread across a sample of 14 counties. The outlets comprises of hardwares, quarries, petrol stations and contractors. The price data is usually collected as at the 15th day of the month of the respective quarter. Specifically, prices are collected in February, May, August and November of every year, representing quarter one, two, three and four, respectively. This review gives the highlights of the first quarter 2021. As shown in Table 1, there was an increase in the cost of constructing buildings by 1.54 per cent, from 100.91 in the fourth quarter of 2020 to 102.46 in the first quarter of 2021. Civil engineering cost indices rose by 1.84 per cent in the first quarter of 2021 to stand at 106.21. The overall construction indices increased by 1.72 per cent from 102.59 in the fourth quarter of 2020 to 104.35 in the first quarter of 2021. The increase in the indices