Agência Brasil
Rio de Janeiro – The cost of building index (INCC) showed a rise of 0.80% in March, slightly less than in February, when it rose 0.82%. A year ago, in March 2003, the INCC rose 1.19%.
The numbers are from the government statistical bureau (IBGE) which also reports that for the year there is a cumulative 2.12% increase in the INCC, and 11.93% for the last 12 months. According to the IBGE, the INCC has been pressured by labor costs in Rio de Janeiro, where it jumped 4.53%.
A breakdown of building costs in March is as follows: per square meter – R$467.31, of which R$267.62 for material, and R$199.69 for labor. The INCC is used as a yardstick by the govenment to determine the costs of public works.
