The wholesale price index registered in May an increase of 5.2% and the construction cost advanced 6.2%reported today the National Institute of Statistics and Censuses (Indec).
With this rise, wholesale prices accumulated an increase of 28.7% in the first five months of the year, while the cost of construction increased 22.4 % in a similar period.
In the last twelve months, wholesale prices rose 54.8% and construction 49.7%specified the Indec.
In this way, the agency concluded the dissemination of the indices related to the evolution of prices in May, which began last Tuesday when it announced the variation of the retail index or Cost of Living, which marked a monthly increase of 5.1%. , 29.3% so far this year and 60.7% in the last 12 months.
The rise in wholesale prices in May was driven by a rise of 5.2% in Primary Products, 5.3% in Manufactured Products, 4.7% in Imported Products, and 29.8% in cost of electrical energy.
Among the primary products, the 11% rise in Non-Metallic Minerals, linked to construction, stood out; 8.6% in Fishing; 4.3% in Crude Oil and Gas and 2.7% in Agriculture.
Among manufactured products, the Food and Beverages category increased 3.9%; Textiles 3.4%; Rubber and Plastic 5.4%; Basic Metallics 6.3%; Machinery and Equipment 4.5%; motor vehicles 4.7%; Electrical appliances 4.9%, Non-metallic minerals 5.5%, among others.
Meanwhile, the general level of the construction cost index (ICC) in Greater Buenos Aires registered a up 6.2% compared to the previous month, as a result of the 4.4% rise in the “Materials” chapter; 8.2% in “Manpower” and 5.8% in the item “General expenses”.
Meanwhile, the general level of the construction cost index (ICC) in Greater Buenos Aires registered a rise of 6.2% compared to the previous month, as a result of the 4.4% rise in the “Materials” chapter, 8.2% in “Manpower” and 5.8% in the item “General expenses”.
The “manpower” chapter incorporates the new values established by the salary agreement of the Construction Workers’ Union of the Argentine Republic (UOCRA), dated May 4. Likewise, the increase in labor categories has an impact on the “General Expenses” chapter, since this chapter contains the “Serene” item, which is framed within the agreement.
As for the rise of 22.4% in the Cost of Construction in the first five months, it was driven by a rise of 21.5% in Materials and 21.7% in General Expenses, while the value of Manpower increased 23.4%.
The Construction Cost Index report in Greater Buenos Aires measures the average evolution of the cost of private construction of buildings intended for housing in the Autonomous City of Buenos Aires and in the 24 districts of the Buenos Aires suburbs. .
For its part, the Wholesale Price Index System report measures the evolution of products destined for the domestic market, of national or imported origin, and studies the variations of the goods that make up the national supply.
#DatoINDEC
The cost of construction rose 6.2% in May 2022 compared to April and 49.7% year-on-year: that of materials, 4.4% monthly; general expenses, 5.8%; and labor, 8.2% https://t.co/C5hgwV0YlL pic.twitter.com/5glUtT8frS— INDEC Argentina (@INDECArgentina) June 16, 2022
