The year-on-year change in the New Housing Construction Cost Index (ICCHN) stood at 4.5%, a slowdown of 0.1 percentage points compared to the previous month.
The year-on-year increase in material prices rose by 1.3%, consistent with the previous month’s 1.3% and contrasting with 0.0% in the same month last year.
The cost of labor rose by 8.3%, compared to 8.6% in September and 9.6% in October of the previous year.
The INE details that among the materials most influencing the price increase are glass and mirrors (up by about 25%) and ready-mix concrete, kitchen furniture, and sanitary items (up by about 5%).
Conversely, there was a decrease of approximately 5% in prices for ceramic products and prefabricated concrete products.
In a month-to-month analysis, the monthly change rate of the ICCHN was 0.3% in October, 0.4 percentage points lower than in September, with material costs decreasing by 0.2% and labor increasing by 0.8%.
