The Kenya National Bureau of Statistics (KNBS) on Tuesday, January 16, 2024, released Construction Input Price Indices (CIPI) for the fourth quarter of 2023.
The CIPI comprises of the Construction Inflation, Overall Construction Cost Indices, Building Cost Indices and Civil Engineering Cost Indices.
KNBS says the indices are generated from price data collected from a representative sample of outlets of construction inputs.
“The data is collected quarterly, with reference to the 15th day of the mid-month of the quarter,” notes the agency.
According to the report, the year-on-year (YoY) inflation in the construction industry increased by 4.16 per cent from an increase of 7.10 per cent recorded in a similar period in 2022.
The Material Indices increased by 2.09 per cent from 121.53 in quarter 3 of 2023 to 124.07 in quarter 4 of 2023. This is a result of an increase in the indices of cement, bitumen, mix and pre-coated chippings and hardcore which recorded an increase of 4.08 per cent, 3.80 per cent, 3.41 per cent and 3.12 per cent to 106.98, 170.18, 130.81 and 109.51, respectively, in quarter4 of 2023.
In the fourth quarter of 2023, the Equipment Index recorded an increase of 0.41 per cent to 107.52 while the index of Transport, Fuels and Lubricants recorded an increase of 3.46 per cent to 127.09.
“This is attributed to the increase in the index of fuels from 128.21 in quarter 3 of 2023 to 134.27 in quarter 4 of 2023,” said KNBS.
