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Sinapi

Construction prices change 0.36% in May driven by high in labor force

Section: Economic Statistics | Vinícius Britto

June 07, 2023 09h00 AM | Last Updated: June 15, 2023 12h34 PM

#PraCegoVer A foto mostra alguns operários montando uma estrutura metálica.
Result of the Civil Construction Index for May was influenced by the 1.24% increase in the share of labor force - Photo: Helena Pontes/Agência IBGE Notícias

The National Index of Civil Construction (Sinapi), released today (07) by the IBGE, changed by 0.36% in May, an increase of 0.09 percentage points (p.p.) in relation to April (0.27%). Thus, in the last 12 months, the increase is 6.13%, well below the 8.05% recorded in the immediately previous twelve months and matching the pre-pandemic level. The index accumulated in the year registered 1.23%. In May of last year, the monthly index was 2.17%.

The national cost of construction, per square meter, which closed at R$ 1,693.67 in April, rose to R$ 1,699.79 in May, of which R$ 1,004.40 related to materials and R$ 695.39 to labor.

The share of materials changed -0.24% in May, falling 0.66 pp compared to April. This rate represents a significant drop, with the last negative index registered in January of this year. In comparison with the index of the previous year (1.96%), there was a decrease of 2.20 percentage points.

"In recent months we have been following this trend in the price of materials, in some months with deflations and in others with rise. This share is adapting itself again to the market after the pandemic", reports Mr. Oliveira.

In terms of labor force, the rate of 1.24% in May was partly influenced by the increase in the minimum wage and collective agreements signed in Maranhão, São Paulo and the Federal District. The result indicated an increase of 1.19 pp in relation to the month of April, when it was 0.05%. In the annual comparison, with May 2021 (2.49%), there was a decrease of 1.25 percentage points.

"This rate of 1.24% was influenced by these three Federation Units due to the execution of agreements in the month, but, mainly, by São Paulo, which is the state with the greatest weight in the calculation of the index", justifies the survey manager.

In the first five months of 2023, materials registered 0.32% and labor force, 2.56%. As for the cumulative figures for the last 12 months, the result was 4.30% (materials) and 8.86% (labor force).

Maranhão records the highest increase among FUs; Southeast is Major Region with the greatest change

Maranhão was the Federation Unit with the highest increase in construction costs, reaching a rise of 1.92%. The state of São Paulo (1.29%) also stood out because, despite the smaller increase, it has the highest weight in the index. The Federal District (1.63%) had the second highest rise in May.

The result in São Paulo helps explain the index in the Southeast, which presented the greatest change among the Major Regions, with a rate of 0.59%. The other regions presented the following results: 0.28% (South), 0.25% (North), 0.21% (Northeast) and 0.13% (Central-West).

With regard to regional costs, the South recorded the highest value (R$ 1,785.67), followed by the Southeast (R$ 1,754.28) and the North (R$ 1,731.85). Central-West (R$ 1,730.74) and Northeast (R$ 1,581.22) recorded the lowest cost.

More about Sinapi

Sinapi, a joint production by IBGE and Caixa, aims at producing monthly series of costs and indices for the housing sector, and monthly series of median wages for labor force and median prices of materials, machinery and equipment and construction services for the basic sanitation, infrastructure and housing sectors.

Sinapi's statistics are fundamental in investment planning, especially for the public sector. Prices and costs help in the preparation, analysis and evaluation of budgets, while indexes make it possible to update the amounts of expenses in contracts and budgets.

You can consult the data from the National System of Costs Survey and Indexes of Construction on Sidra database. The next release of Sinapi, referring to the month of June, will be on July 11th.



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