Sinapi
Construction prices slow down and change 0.08% in November
December 12, 2023 09h00 AM | Last Updated: December 13, 2023 11h14 AM
The National Index of Civil Construction (Sinapi), released today (12) by the IBGE, showed a change of 0.08% in November, a drop of 0.06 percentage points (pp) in relation to October (0.14%). Thus, in the last 12 months, the increase is 2.36%, below the 2.44% recorded in the previous 12 months. The cumulative result for the year was 2.28%. In November last year, the monthly index was 0.15%.
“The cumulative indices are the lowest in the series for the month of November since 2014. This means that the construction sector has had a lower increase in costs throughout 2023. Until November, we did not have such a large impact on the indices, neither in labor force or in materials, unlike what had happened in 2020 and 2021, during the pandemic”, highlights Sinapi manager Augusto Oliveira.
The national cost of construction, per square meter, which closed at R$1,716.30 in October, rose to R$1,717.71 in November, with R$999.15 relating to materials and R$718.56 to labor force.
The share of materials changed by -0.08%, a small increase compared to the stability observed in the previous month (0.02%) and in November 2022 (0.01%), increasing 0.06 and 0.07 percentage points, respectively.
“Materials showed many fluctuations throughout 2023. It is worth mentioning that, in the year, there was deflation in the share of materials in five months – January, May, June, August and September. May, June and September had stronger drop rates, above 0.2%”, analyzes Mr. Oliveira.
Labor force was not impacted by collective bargaining in November. “However, Rondônia stood out in the share of labor with a change of 1.43%, the highest among the states, but this change does not come from wage gains resulting from collective bargaining,” adds the manager.
With an increase in materials, Maranhão has the greatest change
With an increase in the share of materials, Maranhão was the state that recorded the highest rate in November, 0.73%.
The North Region, with an increase in the share of materials in five of its seven states, had the highest regional change for the third consecutive time, 0.18%. The other Major Regions presented the following results: 0.14% (Northeast), 0.06% (Southeast), 0.13% (South) and -0.17% (Central-West).
More about Sinapi
Sinapi, a joint production of IBGE and Caixa, aims at producing monthly series of costs for the housing sector, and monthly series of median wages for labor force and median prices of materials, machines and equipment and construction services for the basic sanitation, infrastructure and housing sectors.
Sinapi statistics are fundamental in investment planning, especially for the public sector. Prices and costs help in the preparation, analysis and evaluation of budgets, while indices make it possible to update expense values in contracts and budgets.
Consult data from the National Civil Construction Cost and Indices Research System on Sidra database. The next Sinapi release, for the month of December, will be on January 11, 2024.
