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Construction prices change by 0.15% in February, with biggest rise in the Central West

Section: Economic Statistics | Breno Siqueira

March 12, 2024 09h00 AM | Last Updated: March 14, 2024 01h45 AM

Materials changed by 0.17% in February, with an increase from both January (0.14%) and February 2023 (0.10%) - Photo: Helena Pontes/IBGE News Agency

Released today (12) by the IBGE, the National Index of Civil Construction (Sinapi) changed by 0.15% in February, with a drop of 0.04 percentage points (p.p.) against January (0.19%). With this result, the cumulative index in the year reached 0.34%, whereas that in the last 12 months reached 2.50%, being close to the 2.43% relative to the previous 12 months. Against February 2023 (0.08%), the index rose by 0.07 percentage points.

The national cost by square meter reached R$ 1,728,11 with R$ 1,004.92 relative to material and R$ 723.19 to workforce. In February, the share of materials changed by 0.17%, with an increase both from the preceding month (-.14%) and from February 2023 (0.10%).

“Workforce decelerated, with a change of 0.13% and stood 0.14 percentage points below the figure of January. Against February 2023, there was an increase of 0.09 percentage points,” said Augusto Oliveira, manager of Sinapi.

Given this result, the cumulative index in 2024 stood at 0.31% for materials and 0.40% for workforce. The cumulative indexes in 12 months stood at 0.30% (material) and 5.75% (workforce), respectively.

Central West Region records biggest change among the Major Regions and Ceará leads among Federation Units

The Central West, with increases in Goiás, Mato Grosso and the Federal District, recorded the highest regional change in January, 0.36%. The other results were: 0.17% (Northeast), 0.14% (North), 0.11% (Southeast) and 0.10% (South). Among the states, Ceará stood out, with an increase of 0.92%, driven by the increase in both contributions.

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 March, will be available on April 10, 2024.

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