Home > News > Industry News > Price of building materials in Cyprus down 0.55% in Feb, new index in use

Price of building materials in Cyprus down 0.55% in Feb, new index in use

Post Time:Mar 27,2009Classify:Industry NewsView:300

Cyprus’ price index of construction materials in February totaled 116.51 points (base year 2005=100.00), down 0.55% from the previous month, the Statistical Service of Cyprus reported.

In January–February, the index recorded an increase of 1.05% from the same period a year earlier.

CYSTAT also announced that formulation of the index had been overhauled, effective this month.

Revised is the classification of materials to reflect modern technology; and a new sample of enterprises has been employed due to changes in the market since the old index was devised.

In addition, the weight of each material in the overall index is derived from the sum of its imports and domestic production.

Finally, the base year for the index is now 2005=100.0 from the year 2000 previously.

Source: Balkans.comAuthor: shangyi

Related News

Hot News

返回顶部