The prices of building materials in Abu Dhabi, UAE, last month saw substantial change, with average prices of items in 16 categories witnessing a sharp fall compared to the same period last year, according to a report. The report was part of the monthly publication of Building Materials Price Statistics issued by the Statistics Centre - Abu Dhabi.
The figures are of great significance as building material prices are deemed to be important economic indicators for planning and research in various fields, reported the state news agency Wam.
They are also used in the compilation of indices of the construction activity and for the calculation of gross domestic product (GDP) at constant prices.
According to the report, average prices of glass rose by 7.8 per cent; paints by 5.5 per cent; and insulation materials by three per cent during the month of May as compared to April 2017.
In the meantime, prices of natural stone decreased by 5.4 per cent; false ceiling by 3.1 per cent; and wire by two per cent in May compared to the previous month. Additionally, diesel prices increased by 23.1 per cent; with electric cable up 9.4 per cent during May over the same period last year, stated the report.
Average prices of iron fell by 10.6 per cent; and wood by 9.5 per cent during May over the same period last year, it added.