Housing construction costs rose 6.8% YoY in August – INE
According to INE, in August, the estimated year-on-year change in the Construction Cost Index for New Housing (HNCI) was 6.8%.
New housing construction costs rose 6.8% year-on-year in August, up 0.3 percentage points over the previous month, according to Portugal Statistics (INE).
According to the institute, in August, the estimated year-on-year change in the Construction Cost Index for New Housing (HNCI) was 6.8%, with the price of materials accelerating to 8.7% (8.5% in the previous month) and the cost of labour increasing by 4.1% (3.7% in July).
Labour costs contributed 1.8, percentage points to the year-on-year rate of change of the HNCI and the materials component contributed 5.0 percentage points.
The HNCI is a derived statistic produced by INE which aims to measure the construction cost of residential buildings in Portugal.
