Tehran’s Construction Material Inflation at 42% in Q3
EghtesadOnline: The general price index of construction materials for residential units in Tehran stood at 422 in the third quarter of the current Iranian year (Sept. 23-Dec. 21), according to the Statistical Center of Iran's latest report published on its website.
During the year ending Dec. 21, the index grew by 42.1% compared with the previous year's corresponding period, Financial Tribune reported.
The index rose by 27.5% during the third quarter of the current Iranian year that ended on Dec. 21 compared with last year's corresponding quarter.
Compared with the previous quarter, i.e. the second quarter of the current year (summer), which ended on Sept. 22, the index saw a 3.7% rise. The construction material price index stood at 407 in summer.
The category of “ironware, rebar, profile for doors, windows and fences” with a price growth of 14.4% compared with the Q2 and a coefficient of 18% gave the biggest boost to the overall index in Q3. The index for this category stood at 421.3.
The category witnessed a price hike of 28.1% compared with last year's similar quarter. Its price index grew by 36.5% during the four-quarter ending Dec. 21.
The category of "services" ranked second when it comes to having an impact on the growth of construction materials’ index with a price growth of 3.7% over the previous quarter and a coefficient of 25.5%. The category’s index hit 355.3 in Q3, which was higher by 26.4% compared with the same quarter of last year. During the four-quarter ending Q3, the growth rate of this category's price index was 25.7%.
The category of “wood” was the third group with the biggest impact on the overall residential construction material price index in autumn. In Q3, the group's index stood at 585.6, which was higher by 6.5% compared with the previous quarter and 32% year-on-year. In the four-quarter ending Q3, the group experienced a growth of 67.9% in its price index. The category has a coefficient of 7.8%.
The category of “cement, concrete, gravel and sand” with a 8.1% decline in price index and a coefficient of 15.1 and the “masonry, earthenware and brick” category with a 1.4% decrease in price index and a coefficient of 5.2 were the main laggards lowering the overall index growth.
In Q3, the “cement, concrete, gravel and sand” category’s index was registered at 371.5, which was higher by 35% year-on-year. In the four-quarter ending Q3, the group experienced a growth of 46.8% in its price index.
The “masonry, earthenware and brick” group index stood at 342.2 in Q3, registering a 39.8% growth compared with the same quarter of last year. The group’s price index grew by 53% during the four quarters ending Dec. 21.