Construction costs continue to rise with 3.5% increase in January

business
Construction Costs Continue To Rise With 3.5% Increase In January Construction Costs Continue To Rise With 3.5% Increase In January
In January, the price of manufacturing goods rose by 3.5 per cent in comparison to price the year before. Photo: PA Images
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Construction costs have risen once again, new figures from the Central Statistics Office (CSO) show.

In January, the price of manufacturing goods rose by 3.5 per cent in comparison to price the year before. This compares to the increase of 4.5 per cent experienced in the year to December 2021.

It comes as recent figures from the CSO cited inflation at 5 per cent.

According to the CSO's monthly factory gate prices, there was a 0.1 per cent increase in prices in January 2022 compared to the 1.1 per cent increase experienced in January 2021.

The price index for export sales was unchanged, while the index for home sales increased 2.3 per cent.

In the year, there was an increase of 3.3 per cent in the price index for export sales, although this can be influenced by currency fluctuations.

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There was also an increase of 7.9 per cent in respect of the price index for home sales.

Meanwhile, the cost of wood and wood products jumped by 24.1 per cent.

Prices for basic metals climbed by 32.3 per cent, while other materials such as rubber and plastic products saw price increases of 11.4 per cent.

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