In the first five months of the year, the cost of construction accumulates an advance of 38.1%, according to INDEC.
He construction cost (ICC) in Greater Buenos Aires continues its deceleration and reduced its monthly increase by half, when climbing 4% (vs. 8.1% in March), while the interannual variation was 251.7% and the accumulated for the first five months of the year stood at 38.1%as reported by the National Institute of Statistics and Censuses (INDEC).
The increase in the CCI is explained by the rise in 2.9% in materialsa 5% on labor and other 5.7% in the general expenses. However, in annual terms these items have disparate variations, reaching 312%, 188.2% and 269.5%, respectively.
In the segment of general expenses was included, in April 2024, “an update authorized by the regulatory body ENARGAS in the values of all gas connection concepts”the organization reported.
Labor increase
The price of the salaried labor rose 3.9% in the month, 182% in the last year and 42.6% accumulated in 2024, while the labor subcontracts increased 10.5% in March compared to January, 219.3% year-on-year and 63.6% accumulated this year.
The Materials were selected due to the importance of their impact on the total cost of the work.. Those that rose the most were in plastering (+12.6%), Earth movement (+11.6%) and Elevators (+5.6%). Meanwhile, the smallest increases were recorded in Electrical installation (2.1%), Glasses (1.8%) and Metal carpentry and blacksmithing (-0.2%).
Finally, from the consulting firm LCG they stated that going forward they foresee that the construction costs are adjusted to a lower nominal value, due to lower parities and materials aligned to retail inflationwhich is projected around 100% for December.
Source: Ambito
