The materials that increased the most during the period were Cables and Conductors, with 26.8%; Taps and stopcocks 20%; Metallic products for sanitary and electrical installation, 19.3%; Granite countertop, 17.8%; Electrical control devices, 17.3%; Glasses, 16.7%; Gas devices, 16.1%; Metallic openings and bars, 15.9%.
“The July record in construction costs was softened by a meager increase in labor, a component that represents just over half of the index,” they explained from the LCG consultancy, adding: “It is worth saying that the UOCRA signed parity whose increases will take place between May and November, with July being the only month without increases. In this sense, if salary adjustments had fallen in July, the increase in the general cost index would have been around 9% in the month”.
On the other hand, when analyzing the rise in the construction materials category, they pointed out that “such an increase had not been observed since September 2019, after the abrupt post-PASO devaluation. Thus, the increase in materials was 2 pp below that peak when the exchange rate jumped 25% per month”.
Looking at what may happen in the coming months with construction costs, from LCG they concluded: “It is expected that the monthly dynamics will continue to be marked by Materials, together with adjustments in Manpower, a component that imposes an adjustment of 8 Average monthly % for the rest of the year agreed in joint UOCRA. In sum, we project that construction prices accumulate an annual rise of around 85% for December, slightly below retail inflation”.
Source: Ambito
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