Prices of construction materials continue to fluctuate, marking an increase of 0.4% in October 2024 compared to September. According to the National Agency for Statistics and Demography (ANSD), this increase is mainly due to the increase in the cost of basic materials, which saw their prices rise by 0.8% over the period. However, on an annual basis, the prices of construction materials showed a drop of 2.2%, reflecting a contrasting dynamic between monthly and annual developments.
Basic materials: reinforcing steel leading the rise
The increase in the price of basic materials (+0.8%) is mainly attributed to the rise in prices of reinforcing steel (+2.9%) and gravel (+0.6%). On the other hand, ordinary cement, a key construction product, recorded a slight decline of 0.1% in October. According to the ANSD, this category remains the most impacted year-on-year, with a notable contraction of 3.3%.
Waterproofing materials: rising prices, driven by bitumen felt
Waterproofing materials recorded an increase of 1.3% month-on-month, mainly due to the increase in bitumen felt prices (+1.7%). However, compared to October 2023, these materials show a slight annual decrease of 0.4%, specifies the ANSD.
Electrical work: upward trend continues
The electrical work materials sector is not immune to the upward trend. Prices increased by 1.0% in October, driven by increases in VGV cables (+2.0%) and orange tubes (+1.2%). On an annual basis, this category stands out with a significant increase of 4.6%, according to ANSD data.
A dynamic to watch
The price variations observed in the different categories of materials demonstrate the multiple factors influencing the construction sector. If basic materials remain slightly up over one month, their annual decline of 2.2% reflects some pressure on costs. The ANSD emphasizes that these developments must be closely monitored, particularly in the context of the major projects underway in the country.
