The cost of building went up by 2.71 percent year-on-year in the third quarter of 2023 driven by a rise in the cost of cement, steel, fuel and other key inputs.
Data from the Kenya National Bureau of Statistics (KNBS) shows the Construction Cost Index rose to 116.45 in the three months to September, up from 113.38 in the same period last year. It is the fastest annual growth since the fourth quarter of 2022 when the index rose by 7.1 percent, the third fastest rate on record.
