New housing construction costs increased by 4.5% in October compared to the same month last year, with labor rising by 8.3% and materials by 1.3%, according to data released this Tuesday, 9th, by INE.
The year-on-year variation in the New Housing Construction Cost Index (ICCHN) thus stood at 4.5%, a slowdown of 0.1 percentage points compared to the previous month.
The year-on-year rise in material prices increased by 1.3%, remaining in line with 1.3% in the previous month and which compares with 0.0% in the same month last year.
Labor costs grew by 8.3%, compared to 8.6% in September and 9.6% in October last year.
INE details that among the materials that most influenced the price increase are glass and mirrors (increase of around 25%) and ready-mixed concrete, kitchen furniture and sanitary items (increase of around 5%).
Conversely, there was a drop of around 5% in prices for ceramic products and prefabricated concrete products.
In a chain analysis, the monthly rate of change of the ICCHN was 0.3% in October, 0.4 percentage points lower than in September, with the cost of materials falling by 0.2% and labor increasing by 0.8%.