A sharp increase in the construction cost index in the West Bank during 2022 – PCBS

RAMALLAH, The Construction Cost Index (CCI) in the West Bank sharply increased in 2022 compared with 2021, today said the Palestinian Central Bureau of Statistics (PCBS).

It said CCI for residential buildings increased by 5.85% as a result of an increase in the price of raw materials by 6.48%, the labor costs and wages by 5.55%, and the prices of rental of equipment by 3.11%.

CCI for non-residential buildings also increased by 5.57% as a result of an increase in the price of raw materials by 5.98%, labor costs and wages by 5.55%, and the prices of rental of equipment by 3.12%.

CCI for skeleton buildings increased by 6.41% compared with 2021 as a result of an increase in the price of raw materials by 7.38%, the labor costs and wages by 5.01%, and the prices of rental of equipment by 3.11%.

The overall Road Cost Index (RCI) in the West Bank increased by 5.01% compared with 2021 as a result of an increase in the prices of operating costs of equipment and maintenance by 10.24%, the labor costs and wages by 7.99%, the price of raw material by 5.15%, and the prices of rental of equipment by 4.21%.

The overall Water Networks Cost Index (WNCI) in the West Bank increased by 5.82%, the Water Reservoirs Cost Index increased by 6.56%, the Water Networks Cost Index increased by 5.50%, and the Sewage Networks Cost Index increased by 3.52% during 2022 compared with the previous year, said the PCBS.

Source: Palestine News & Information Agency