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Construction prices change by 0.19% in January

Section: Economic Statistics | Caio Belandi

February 08, 2024 09h00 AM | Last Updated: February 09, 2024 02h36 AM

Workforce changed by 0.27% in January, after rise of the minimum wage - Photo: Pará Branch

The National Index of Construction Industry (Sinapi), released today (08) by the IBGE, changed by 0.19% in January, with a drop of 0.07 percentage points (p.p.) from December 2023 (0.26%). With this result, the index starts the year with a change 0.12 p.p. below that of January 2023, of 0.31%. The cumulative index in the last 12 months reached 2.43%.

“That is the smallest change for a month of January in the time series that considers  payroll exemption for the segment of civil construction, initiated July 2013,” explains the manager of Sinapi, Augusto Oliveira. The national cost by square meter reached R$ 1,725.52, with R$ 1,003.26 relative to material and R$ 722.26 to manpower.

Workforce changed by 0.27%.  “Driven by the rise of the national minimum wage for 2024, which exerts a direct impact on salaries of professional categories that are paid less than the new value in effect.”  In spite of that, the figure was close to that of December 2023 (0.24%).  Against January 2023, the result points to a decrease by 0.54 percentage points (0.81%).

Material recorded a change of 0.14%, having opned the year with a decrease of 0.13 p.p against December in the previous year, when the figure was 0.27%.  Against the index of January 2023 (-0.03%), there was an increase of 0.17 percentage points.

Given this result, the cumulative index in the last 12 months stood at 0.23% regarding material and 5.65% regarding workforce.

North Region records biggest change among Major Regions, and Tocantins is the leader among Federation Units

The North Region, with increase in all its states, accounted for the main regional change in January, 0.60%.  Tocantins stood out, with an increase of 0.95%, driven by the increase in both segments.  In the second position is the Northeast (0.49%), South (0.07%) and Central West (0.01%). The Southeast was the only Major region recording a negative change, 0.04%.

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.

Check the data of the National System of Survey of Costs and Civil Construction on Sidra. The next release of Sinapi, relative to February, will be available on March 12, 2024.

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