SANTO DOMINGO. – Construction material prices maintained high trends during the first ten months of the year, according to reports registered by the National Statistics Office (ONE), which indicate that compared to October 2023, the Direct Housing Costs Indicator (ICDV) increased by 5.61% in the last 12 months.
From aggregates, labor, cement, steel, electrical accessories, wood and other products involved in the construction of buildings, prices remained high during the aforementioned period.
January
Seventeen construction materials and related products saw price increases during January, according to the ICDV bulletin, which stated that the largest increase occurred in aggregates with a 7.85% rise.
The report from the ONE, department of current statistics, price index division, notes that the only decrease in January 2024 occurred in fuels with -0.13%.
The ONE reported that by cost subgroups, the main variations were shown, in addition to the aggregates, in elevators with 2.92%; concretes, with 1.79%; electric generators, with 1.75%; vaults, with 1.74%; equipment and apparatus for water and sanitary installations, with 1.07%.
In addition, cements and glues experienced increases, with 0.88%; modules, meters and breakers, with 0.70%; and PVC pipes and parts, with 0.63%.
By cost group, the bulletin states that there were also variations in tools with 0.16%, materials with 0.85%, labor with 0.00%, subcontracts with 0.13% and machinery with 0.58%.
February
In February, the largest variation occurred in electrical accessories with a 5.93% increase, while the subgroups blocks and others experienced an increase of 2.36%; wires, nails, zinc and others, with 2.10%; pipes and pvc pieces, with 1.64%; cements and glues, with 1.35%; and steels with 1.29%.
March
The electrical accessories component maintained its upward trend for the second consecutive month, marking a 5.80% increase in March.
The variation in the ICDV by cost group was as follows: tools with 5.17%; materials with 0.36%; machinery with 0.19%; and labor with 0.00%, the document highlights.
The main variations were seen in electrical accessories, with 5.80%; tools, with 5.17%; electrical wires, with 1.54%; steels, with 1.41%; blocks and others, with 0.95%; wires, nails, zinc and others, with 0.91%.
April
According to the report, aggregates (5.99%) and paint (5.97%) were the products that registered the main price variations in April 2024.
The agency's monthly bulletin highlighted that meters and breakers also experienced increases, with 3.85%; wood, with 1.54%; floors and ceramics, with 1.48%; and equipment and appliances for water and sanitary installations, with 1.20%.
May
The main variations were observed in tools with an increase of 3.29%; subcontracts with an increase of 1.32%; and labor remaining unchanged at 0.00%.
Regarding the cost subgroups, the main variations were shown in carpentry subcontracting, with 5.77%; tools, with 3.29%; elevator, with 1.61%; blacksmithing subcontracting, with 1.19%; electrical wires, with 1.00%; and plumbing and sanitary equipment and fixtures, with 0.37%.
June
Labor costs in the construction sector, along with some materials such as wire, nails and zinc, experienced an increase of 12% or more in June, according to the report from the National Statistics Office (ONE).
Regarding cost groups and subgroups, the main monthly variations were observed in labor with an increase of 12.00%; and in the group of wires, nails, zinc and others with 12.78%, respectively.
According to the monthly bulletin published by the ONE each month, from December 2022 to that date, the index has shown an accumulated increase of 5.79%.
“When comparing the results of June 2024 with those of June 2023, the index has shown a variation of 6.18%,” the organization highlights.
July
The ICDV, in the province of Santo Domingo and the National District, registered an increase of 7.82% in July of this year, according to figures from the ONE.
Information from the National Statistics Office indicated that the main monthly variations in construction materials were shown in electrical wires, with 8.87%; cements and glues, with 2.53%; plumbing equipment and appliances, with 0.65%; and flooring and ceramics, with 0.44%.
In the breakdown of categories by the agency, the increases in the seventh month of 2024 were most notable in the materials category with a 0.51% increase; tools with a 0.06% increase. Labor costs remained unchanged at 0.00%.
August
The main monthly increases were recorded in floors and ceramics, with an increase of 3.02%; blocks and others, with 2.60%; miscellaneous electrical items, with 1.85%; and vaults, with 0.85%; and materials, with an increase of 0.29%.
September
When comparing the results of September 2024 with those of the same period in 2023, the Direct Housing Cost Index (ICDV) registered an increase of 5.43%, according to figures from the ONE.
According to the entity's report, the monthly variations show increases in PVC pipes and parts, with 7.80%; blocks and others, with 2.56%; elevators, with 2.06%; steel, with 0.98%; modules, meters and breakers, with 0.68%.
“Regarding cost groups, the main monthly variations were observed in materials with an increase of 0.50%; machinery with an increase of 0.17%; and labor remaining unchanged at 0.00%,” he notes.
October
Although a slight decrease of 0.52 points was recorded, the index showed a cumulative increase of 3.28% since December 2023. In addition, compared to October 2023, the indicator has increased by 5.61% in the last 12 months, according to the monthly report published by the organization.
Materials experienced an increase of 0.63%, machinery rose by 0.08%, and labor remained unchanged.
Regarding the increases in the cost subgroups, the monthly variations reflected increases in blacksmithing subcontracts, being (2.91%), the aggregates reaching (0.81%), electric wires with (0.52%), electric generators with (0.23%), and finally, elevators, with (0.17%).
