EL STAT Hellenic Statistical Authority : Material Costs Index in the Construction of New Residential Buildings (2015=100.0), December 2019

HELLENIC REPUBLIC
HELLENIC STATISTICAL AUTHORITY	Piraeus, 24 January 2020

PRESS RELEASE

MATERIAL COSTS INDEX IN THE CONSTRUCTION OF NEW RESIDENTIAL BUILDINGS: December 2019, y-o-y change 0.1%

The Overall Material Costs Index in the Construction (CSTM) of New Residential Buildings with base year 2015=100.0 in December 2019 recorded an increase of 0.1% in comparison with December 2018. The corresponding index in December 2018 had recorded an increase of 0.4% compared with December 2017 (Table 1).

The Overall Index in December 2019, compared with the corresponding index in November 2019, recorded an increase of 0.2%. The index had remained unchanged between December 2018 and November 2018 (Table 2).

The average Index for the twelve-month period from January 2019 to December 2019, compared with the corresponding index for the twelve-month period from January 2018 to December 2018, remained unchanged. The comparison of the twelve-month average Material Costs Index in the corresponding previous twelve-month periods had recorded an increase of 0.9% (Table 3).

The time series of CSTM is available on the website of ELSTAT, at:

http://www.statistics.gr/en/statistics/-/publication/DKT60/-

Evolution of annual rates of change (%) of the Material Cost Index in the Construction of New

Residential Buildings (2015=100.0)

3.0
2.0
1.0
0.0
-1.0
12	1	2	3	4	5	6	7	8	9	10	11	12	1	2	3	4	5	6	7	8	9	10	11	12
2017						2018											2019
Information for methodological issues:											Information for data provision:
Business Statistics Division														Tel: [phone], 2308, 2310
Manufacture-Construction Indices and Industrial Products Section					E-mail:[e-mail]
Head of the Section: Diamantaki Aikaterini

Tel: [phone]

Fax: [phone]

E-mail:[e-mail]

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Annual rates of change: December 2019 compared with December 2018

The Overall Material Cost Index in the Construction of New Residential Buildings in December 2019, compared with the corresponding index in December 2018 recorded an increase of 0.1% (Table 1). The main changes in the individual cost indices of the material categories are as follows:

	Material categories			Rates of change %
Electric energy		6.2
	Sliding door mechanisms			5.8
Diesel fuel		2.7
	Steel railings			1.8
Ground marble		1.8
	Quarry sand			1.4
Reinforcements of mortars and ready mixed concrete		1.3
	Switches			1.3
Aluminium door and window frames		1.3
	Granites			1.1
Aluminium railings		1.1
	Marble slabs			1.0
Lifts		0.9
	Garage door mechanisms			0.8
Cupreous Pipes		0.6
	Central heating radiators			0.5
Ready-mixed concrete		-0.4
	Steel reinforcing rods			-1.1
Lime		-1.3
	Cement			-1.9
Tar-cloth		-2.1

Monthly rates of change: December 2019 compared with November 2019

The Overall Material Cost Index in the Construction of New Residential Buildings in December 2019 recorded an increase of 0.2% in comparison with the corresponding index in November 2019 (Table 2). The main changes in the individual cost indices of the material categories are as follows:

	Material categories			Rates of change %
Copper pipes		1.2
	Steel railings			0.9
Steel reinforcing rods		0.8
	Cupreous Pipes			0.7
Aluminium railings		0.6
	Aluminium door and window frames			0.5
Builders' timber		-0.3

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Table 1: Annual rates of change of the Material Cost Index in the Construction of New Residential Buildings

Base year: 2015=100.0

	S/N			Material groups			Weighting					December				Rates of change (%)
					coefficient
							2019		2018		2017			2019/2018		2018/2017
				Overall Index	100.00		99.7	99.5		99.2		0.1	0.4
	1			Cement, mortars and ready			16.25			98.3		98.9		99.0			-0.6		-0.1
			mixed concrete
2		Natural stone	1.76		99.5	98.2		99.7		1.3	-1.5
	3			Marble products, granites			4.02			100.2		99.0		99.3			1.1		-0.3
4			Artificial stone	5.18		100.4	100.1		99.7		0.3	0.5
	5			Timber and builders'			14.33			97.7		97.7		97.8			0.1		-0.1
			carpentry
6			Basic metals	24.85		99.1	99.2		98.4		-0.1	0.9
				Plumbing, heating and
	7			drainage equipment and			9.92			103.1		102.8		101.9			0.2		0.9
				supplies
8			Door and window fittings	2.01		101.2	100.4		99.6		0.9	0.8
	9			Electrical equipment			4.79			101.1		100.5		100.0			0.6		0.4
10			Glass products	3.24		100.7	100.5		100.4		0.2	0.0
	11			Paints and varnishes			2.86			101.1		100.9		100.1			0.2		0.7
12			Floor and wall tiles and	4.79		98.3	98.3		97.7		0.0	0.6
		sanitary ware
	13			Insulating materials			1.38			99.3		100.1		100.0			-0.7		0.0
14			Elevators	2.68		99.1	98.3		98.2		0.9	0.0
	15			Fuel for machinery (diesel),			1.94			108.0		103.8		103.0			4.0		0.7
			electricity, water

Note: The indices and the percentage changes are published rounded up to one decimal digit.

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Table 2: Monthly rates of change of the Material Cost Index in the Construction of New Residential Buildings

Base year: 2015=100.0

							Weighting			December		November			Rates of			December		November			Rates of
	S/N			Material groups										change								change
					coefficient			2019		2019					2018		2018
												(%)						(%)
			Overall Index	100.00		99.7	99.5		0.2		99.5	99.5		0.0
	1			Cement, mortars and			16.25			98.3		98.3			0.0			98.9		98.8			0.1
			ready mixed concrete
2		Natural stone	1.76		99.5	99.5		0.0		98.2	98.2		0.0
	3			Marble products,			4.02			100.2		100.2			0.0			99.0		99.0			0.0
			granites
4			Artificial stone	5.18		100.4	100.5		0.0		100.1	100.1		0.0
	5			Timber and builders'			14.33			97.7		97.8			-0.1			97.7		97.7			-0.1
			carpentry
6		Basic metals	24.85		99.1	98.5		0.6		99.2	99.3		-0.1
				Plumbing, heating
	7			and drainage			9.92			103.1		102.7			0.4			102.8		102.5			0.4
			equipment and
				supplies
8		Door and window	2.01		101.2	101.2		0.0		100.4	100.4		0.0
	fittings
	9			Electrical equipment			4.79			101.1		100.7			0.4			100.5		100.3			0.2
10			Glass products	3.24		100.7	100.7		0.0		100.5	100.5		0.0
	11			Paints and varnishes			2.86			101.1		101.1			0.0			100.9		100.9			0.0
12			Floor and wall tiles	4.79		98.3	98.3		0.0		98.3	98.3		0.0
	and sanitary ware
	13			Insulating materials			1.38			99.3		99.3			0.0			100.1		100.1			0.0
14			Elevators	2.68		99.1	99.1		0.0		98.3	98.3		0.0
				Fuel for machinery
	15			(diesel), electricity,			1.94			108.0		107.8			0.2			103.8		106.4			-2.4
				water

Note: The indices and the percentage changes are published rounded up to one decimal digit.

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Table 3: Evolution of the Material Cost Index in the Construction of New Residential Buildings

Base year: 2015=100.0

				Monthly rates	Annual rates	12-month	12-month moving
Year and month	Overall Index	of change	of change	average index	average rates of
				(%)	(%)	(moving average)	change (%)
2017:	1	98.6	0.2	0.0	98.2	-1.6
		2	98.7	0.1	0.3	98.3	-1.3
	3	98.6	0.0	0.4	98.3	-1.1
		4	98.4	-0.2	0.0	98.3	-0.9
	5	98.4	0.0	-0.1	98.3	-0.8
		6	98.1	-0.3	-0.3	98.3	-0.7
	7	98.2	0.1	-0.1	98.3	-0.5
		8	98.2	0.1	0.2	98.3	-0.3
	9	98.8	0.6	0.9	98.4	-0.1
		10	98.9	0.1	1.1	98.4	0.1
	11	99.0	0.1	1.0	98.5	0.2
		12	99.2	0.1	0.8	98.6	0.4
Annual average			98.6
2018:	1	99.4	0.3	0.9	98.7	0.4
		2	99.6	0.2	0.9	98.7	0.5
	3	99.5	0.0	0.9	98.8	0.5
		4	99.5	0.0	1.1	98.9	0.6
	5	99.4	-0.1	1.1	99.0	0.7
		6	99.5	0.1	1.5	99.1	0.9
	7	99.6	0.1	1.5	99.2	1.0
		8	99.6	-0.1	1.3	99.3	1.1
	9	99.5	-0.1	0.6	99.4	1.1
		10	99.5	0.1	0.6	99.4	1.0
	11	99.5	0.0	0.5	99.5	1.0
		12	99.5	0.0	0.4	99.5	0.9
Annual average			99.5
2019:	1	99.4	-0.1	0.0	99.5	0.9
		2	99.7	0.2	0.1	99.5	0.8
	3	99.8	0.1	0.2	99.5	0.7
		4	99.7	-0.1	0.1	99.6	0.7
	5	99.6	-0.1	0.2	99.6	0.6
		6	99.5	-0.1	0.0	99.6	0.5
	7	99.5	-0.1	-0.2	99.6	0.3
		8	99.4	-0.1	-0.2	99.5	0.2
	9	99.5	0.2	0.1	99.5	0.1
		10	99.5	0.0	0.0	99.5	0.1
	11	99.5	0.0	-0.1	99.5	0.1
		12	99.7	0.2	0.1	99.6	0.0
Annual average			99.6

Note: The indices and the percentage changes are published rounded up to one decimal digit.

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	METHODOLOGICAL NOTES
Generally	The compilation of the Material Costs Index in the Construction of New Residential Buildings started
	in 1971. The index with base year 2015 is compiled since April 2019, when it replaced the previous
	index with base year 2010.
Purpose of the	The purpose of the index is to measure the monthly rates of change in the prices of building
index - definitions	materials paid by the constructors and consumed in the construction of new residential buildings.
	The Material Costs Index is a monthly index and consists a sub-index of the Overall Cost Index in
	Construction of New Residential Buildings.
	For the compilation of the index the prices of the materials supplied, which are actually paid by the
	construction enterprises at the site, are collected and do not include VAT and other deductible taxes.
Legal framework	The compilation of the Material Costs Index is governed by Council Regulation (EEC) No.1165/98
	concerning short-term statistics and by Regulation No.1158/05 of the European Parliament and of
	the Council (amending the above mentioned Regulation).
Reference period	Month
Base year	2015=100.0
Revision	The Material Costs Index is a fixed base index. After the last revision, the index is calculated with
	base year 2015=100.0. Pursuant to the provisions of Council Regulation No.1165/98 concerning
	short-term statistics, the index is updated every five (5) years, on years ending in 0 or 5.
Statistical	A national classification is followed, which includes 91 categories of materials, aggregated in 15
classification	groups.
Geographical	The geographical coverage of the index includes the country as a whole however prices are collected
coverage	only in the biggest urban centers of the country (Greater Athens, Thessaloniki, Patra, Herakleio,
	Larisa and Volos).
Coverage of	The Material Costs Index in Construction of New Residential Buildings is a construction cost index
economic activities	(input index) and covers the transactions for the acquisition of building materials of the new
	residential buildings construction sector from the units / enterprises that provide these materials.
Statistical survey	A total number of 1,512 observations (prices) collected from 280 commercial or industrial
	enterprises supplying building materials are used for the compilation of the index. For electricity,
	prices are collected from the Public Power Corporation, while for water, data are provided by water
	supply companies.
Publication of data	The index with the new base year 2015=100.0 is released since April 2019, with March 2019 as the
	first reference month. Times series data with base year 2015=100.0 are available from January 2000
	onwards.
References	More information on the methodology concerning the compilation and calculation of the index and
	for the time series is available on the ELSTAT website: (www.statistics.gr):
	http://www.statistics.gr/en/statistics/-/publication/DKT60/-

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