Saudi Arabia’s Construction Cost Index (CCI) climbed 0.7% y-o-y in July due to a 0.7% y-o-y increase in construction costs for the residential sector and a 0.6% increase for the non-residential sector, according to data (pdf) from the General Authority for Statistics.

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The drivers: Residential activity was driven up by a 1.5% increase in labor costs and a 1.8% rise in rental prices for equipment and machinery. Meanwhile, non-residential activity increased due to a 1.2% increase in labor costs and a 1.9% rise in equipment and machinery rental prices.

ALSO- Energy prices jumped 9.9%, primarily due to a 27.3% rise in diesel fuel prices, while basic materials prices slipped 0.7%, weighed down by a 2.1% decline in wood and carpentry prices and a 1.9% decline in metal product prices.

On a monthly basis: Residential costs inched up 0.4% m-o-m in July due to a 1.1% rise in labor costs. Meanwhile, non-residential costs posted a 0.5% m-o-m increase as labor costs were up 1.3% and equipment and machinery rental prices rose 0.8%.

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