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Construction costs change by 0.08% in February

Section: Economic Statistics | Carmen Nery

March 10, 2023 09h00 AM | Last Updated: March 11, 2023 04h24 PM

Change of workforce costs was the lowest since March 2021 - Photo: Simone Mello/IBGE News Agency

The National System of Costs Survey and Indexes of Construction (Sinapi) hit 0.08% in February, being 0.23 percentage points below the January index (0.31%) nd getting back to the same lel as in December 2022 (0.08%). The cumulative index in the last 12 months is 9.92%. The index was 0.56% in February 2022.

“There is stability with changes upwards in some states and downwards in others; in the general aggregate, there is stability. Although the index rose from January, it is out of the unusual status observed during the pandemic. Since the middle of 2022, prices changes became more consistent with a scenario that is free from the pandemic,” says the manager of the survey, Augusto Oliveira.

He mentions, though, that making estimates is not possible now, since the survey deals with the current moment.

“Nowadays we have reached the same status as before the pandenic. In addition to that, in February, many products which recorded increases during the pandemic, now present decreases. As a highlight, in this situation, is electric chord, strucural wooden pieces for roofs and PVC tubes, which fell in the states of Minas Gerais and São Paulo, thus adding to the negative change in these states and in the Southeast Region,” Mr. Oliveira explains.

The share of materials changed 0.10%, a drop of 0.13 percentage points from the preceding month (-0.03%). With this rate we observe a slight increase in comparison with stability of indexes since October last year.

The share of workforce, with a rate of 0.04%, and only one collective agreement observed, fell by 0.77 percentage points in relation to January (0.81%). It is worthy of mention that it is the lowest index recorded since March 2021.

The cumulative result of the last 12 months stood at 8.57% in terms of materials and 11.90% in terms of workforce.

North Region records the highest increase

The North Region, with increase in all the states, the share of materials and collective agreements in Amapá, recorded the highest regional change in February, 0.93%. The other Major Regions recorded the following results: 0.06% (Northeast), -0.13% (Southeast), 0.16% (South) and 0.07% (Central-West). With price adjustment in professional categories, Amapá recorded the highest rate in February, 2.04%.

More about SINAPI

The National System of Costs Survey and Indexes of Construction – SINAPI, a joint production of IBGE and Caixa Econômica Federal – Caixa, aims at producing monthly series of costs for the housing sector, and monthly series of median wages for workforce and median prices for materials, construction machinery and equipment and services for the basic sanitation, infrastructure and housing sectors.

SINAPI statistics are fundamental in investment programming, especially for the public sector. Prices and costs support the preparation, analysis and assessment of budgets, while indices enable the updating of expense values in contracts and budgets. Access the data at Sidra.

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