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Building material prices up 78.7% in Zimbabwe

by Staff reporter
07 Jul 2020 at 21:41hrs | Views
Prices of building materials rose an average 78.78% in the first quarter, gaining 31.52 percentage points from December mainly due to pressures in cement, paint, and glass as well as well electrical goods and materials.
 
According to the Building Materials Price Index from Zimstat, the quarterly rate of change was at 78.68% from December's 47.16%.
 
Economists opine that inflationary increases in the price of building materials has been one of the major banes to development and a contributing factor to frequent cost overruns and subsequently project abandonment in most developing countries.

Brick prices rose 74.75% gaining 39.57 percentage points on the fourth quarter of 2019 rate of 35.18% while the Cement, Aggregates and Allied Materials rate of change was 103.11% gaining 58.31 percentage points on the fourth quarter of 2019 rate of 44.80%. The most increase under the cement category came from the building lime category at 245.32.
 
Timber and wood products have the biggest weight on the index at 29.95. Price changes in that segment were seen at 66.66% after a 142.17% increase in softwood pine. Bison boards saw the least increase at 2.52% reflective of low demand of the product.

Paint and glass prices rose 100.34% after significant increase in paints. Electrical goods and materials category with a weight of 6.97% rose the most at 102.63 after electrical cables prices went up 307.47%.
 
The Metal Windows and Door Frames rate of change was 38.28% gaining 4.81 percentage points on the fourth quarter of 2019 rate of 33.47%. The quarterly Roofing rate of change was 56.42% and Sanitary ware and Plumbing rate of change stood at 85.24% gaining 40.86 percentage points on the fourth quarter of 2019 rate of 44.39%. The Flooring rate of change stood at 23.73% shedding 19.13 percent-age points on the fourth quarter of 2019 rate of 42.86%.
 
The quarterly rate of change for Others stood at 48.20 percent gaining 28.28 percentage points on the fourth quarter of 2019 rate of 19.91 per-cent.

Source - finx

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