According to data released by the National Statistics Institute (INE), materials and labour showed average increases of 15.9% and 6.3%, against 6.2% and 5.1% in 2021, respectively.

In addition, it refers that, “in December 2022, it is estimated that the construction costs of new housing have increased by 11.5% in year-on-year terms, 0.1 percentage points (p.p.) more than that observed in the previous month”.

In the month under review, INE reports that material prices increased by 15.3%, accelerating by 0.3 percentage points (p.p.) compared to the previous month, and the cost of labour increased by 6.1% (6.5 % in November).

The cost of materials contributed 9.0 percentage points to the formation of the ICCHN's annual rate of change, which compares with 8.7 percentage points in November, while the labour component increased its contribution to 2.5 percentage points (2.7 percentage points in the previous month).

Among the materials that most contributed to this evolution, INE highlights ceramic products, with year-on-year price increases of around 60%.

It is also mentioned that cement, ready-mixed concrete, wood and wood derivatives, marble and marble products and the consumption of energy products showed year-on-year growth of over 20%.