RAMALLAH, Sunday, August 25, 2024 (WAFA) – The cost of construction for residential buildings in the West Bank saw a modest increase of 0.31% in July compared to June, with the construction price index rising to 121.93 from 121.55 the previous month, according to the Palestinian Central Bureau of Statistics (PCBS).

In its statement issued today, the PCBS reported that, across major categories, prices for raw materials and primary goods increased by 0.47%, while the cost of renting equipment rose by 0.20%. In contrast, the costs for labor remained stable in July 2024 compared to the previous month.

The index for construction costs for non-residential buildings also saw a similar rise of 0.31% in July, reaching 120.87 compared to 120.49 in June. This increase was attributed to a 0.46% rise in the cost of raw materials and a 0.12% rise in equipment rental costs, with labor costs remaining unchanged.

Additionally, the cost of constructing skeleton buildings in the West Bank increased by 0.43% in July, with the index rising to 121.83 from 121.30 in June. The main contributors to this rise were a 0.65% increase in raw material prices and a 0.19% increase in equipment rental costs, while labor costs remained steady.

M.N