According to the Palestinian Central Bureau of Statistics, the Construction Cost Index (CCI), Road Cost Index (RCI), Water Networks Cost Index (WNCI) and Sewage Networks Cost Index (SNCI) in the West Bank decreased during February 2016.

Decrease in the Construction Cost Index for Residential Buildings

The Construction Cost Index for Residential buildings reached 99.23 with a decrease of 0.24% in the West Bank* during February compared with January 2016 (base year 2013=100).

The Construction Cost Index for Residential buildings decreased due to the decrease in the rental of equipment by 0.42%, and the prices of raw materials by 0.37%. At the same time, labor wages remained stable during February 2016 compared with the previous month.

Decrease in the Construction Cost Index for Non-Residential Buildings

The Construction Cost Index for Non-residential buildings reached 99.51 with a decrease of 0.24% in the West Bank* during February compared with January 2016 (base year 2013=100).

The Construction Cost Index for Non-residential buildings decreased due to the decrease in the rental of equipment by 0.41%, and the prices of raw materials by 0.35%. At the same time, labor wages remained stable during February 2016 compared with the previous month.

Decrease in the Construction Cost Index for Skeleton Buildings

The Construction Cost Index for Skeleton buildings reached 95.37 with a decrease of 0.35% in the West Bank* during February compared with January 2016 (base year 2013=100).

The Construction Cost Index for Skeleton buildings decreased due to the decrease in the prices of raw materials by 0.52%, and rental of equipment by 0.29%. At the same time, labor wages remained stable during February 2016 compared with the previous month.

Decrease in the Road Cost Index (RCI)

The overall Road Cost Index (RCI) reached 106.81 with a decrease of 1.34% in the West Bank* during February compared with January 2016 (base month December 2008=100).

The overall Road Cost Index decreased due to the decrease in the prices of raw materials by 2.04%, operating costs of equipment and maintenance by 1.25%, and rental of equipment by 0.31%. At the same time, labor wages remained stable during February 2016 compared with the previous month.

Decrease in the Water Networks Cost Index (WNCI)

The overall Water Networks Cost Index (WNCI) reached 108.54 with a decrease of 0.55% in the West Bank* during February compared with January 2016 (base month December 2010=100).

Water Networks Cost Index reached 113.47 with a decrease of 0.59%, and Water Reservoirs Cost Index reached 97.69 with a decrease of 0.45% during February 2016 compared with the previous month.

Decrease in the Sewage Networks Cost Index

The overall Sewage Networks Cost Index (SNCI) reached 107.33 with a decrease of 0.25% in the West Bank* during February compared with January 2016 (base month January 2010=100).

Note:

* The data of West Bank does not include that part of Jerusalem which was annexed forcefully by Israel following its occupation of the West Bank in 1967.

NB:

1.       Gaza Strip data is not available.

2.       The difference in the percentage change in major groups of road, construction, water networks, and sewage networks cost index is due to the nature compositions of these major groups.

(Palestine Economy Portal)