Building material prices soar

PRICES of building materials went up by an average of 120,43 percent between the first quarter to March 2020 and the second quarter to June 2020, latest data from the Zimbabwe National Statistics Agency (Zimstat) show.

The quarterly rate of change is given by the percentage change in the Building Materials Prices Index (BMPI) of the relevant quarter of the current year compared with the index of the previous quarter.

However, year on year, prices of building materials, as measured by the all items Building Materials Prices Index (BMPI) increased at an average rate of 1 058.82 percent from June 2019 to June 2020.

The year-on-year BMPI rate is given by the percentage change in the index of the relevant month of the current year compared with the index of the same month in the previous year.

Price increases were more pronounced for the cement, aggregates and allied materials where the rate of price change was 151,56 percent gaining 48,45 percentage points on the first quarter of 2020 rate of 103,11 percent.

This was followed by the quarterly bricks rate of price change that stood at 149,73 percent gaining 74,98 percentage points in the first quarter of 2020 rate of 74,75 percent. Metal windows and door frames rate of price change was 121,15 percent gaining 82,88 percentage points in the first quarter of 2020 rate of 38,28 percent.

Timber and wood products rate of price change stood at 118,50 percent gaining 51,85 percentage points in the first quarter of 2020 rate of 66,66 percent. Paint and glass rate of price change stood at 112,14 percent gaining 11,79 percentage points in the first quarter of 2020 rate of 100,34 percent.

Electrical goods and materials rate of price change was 111,45 percent gaining 8,83 percentage points in the first quarter of 2020 rate of 102,63 percent.

The roofing material rate of price change was 82,60 percent gaining 26,18 percentage points in the first quarter of 2020 rate of 56,42 percent.

Sanitary ware and plumbing rate of price change stood at 87,17 percent gaining 1,92 percentage points in the first quarter of 2020 rate of 85,24 percent. The flooring rate of price change stood at 99,88 percent gaining 76,15 percentage points in the first quarter of 2020 rate of 23,73 percent.

The quarterly rate of price change for others stood at 77,31 percent gaining 29,12 percentage points in the first quarter of 2020 rate of 48,20 percent. — BH24