Price Index of Inputs in Residential Construction
1.
The index measures the changes over time in the cost of a
“fixed basket” of materials, products, and services used for
constructing residential buildings. This basket represents the
composition of construction expenditures for contractors and
subcontractors.
2.
As of February 2004, the index is published in an updated form
and is presented according to a new base: January 2004=100.0
points. The updated index is based on the findings of a new
survey of expenditures on residential buildings, whose
construction began in September 1998 and was completed by
the end of September 2002; after adjusting the findings to the
prices of January 2004=100.0 points, which is the new base
period for the updated index.
3.
In addition to the system of indices relating to the total basket
of residential construction, since February 2004 a system of
sub-indices relating to the following building stages has been
published: structure and excavation work, construction work,
and finishing: plastering, painting, paving and covering, metal
work and carpentry, sanitary plumbing work, electrical work,
aluminium work, elevators, air conditioning, and development.
These stages replace the ones that were published from
February 1992 to January 2004, and provide a more reliable
indication of the most recent construction processes.
4.
The changes in the price levels of the various items in the
index are estimated according to the change in the sample
prices of various materials and services that are sold to the
population of primary contractors and subcontractors in
the industry. The prices are obtained from a sample of
suppliers, wholesalers, importers, and establishments.