Press release No. N 006 of 1 February 2023
- Higher energy prices affect, for example, the prices of steel, glass, bitumen and plastics
WIESBADEN – Delivery bottlenecks, material shortages and higher energy prices – the Covid-19 pandemic and the war in Ukraine have had a significant impact also on construction. The Federal Statistical Office (Destatis) reports that, on an annual average, the prices of nearly all building materials rose considerably in 2022 compared with the previous year, which had already seen big price increases. The major upward effect on construction prices came from higher energy prices. Increases were observed in particular in the prices of building materials like steel, steel products or glass, whose production is energy-intensive. On an annual average, bar steel was 40.4% more expensive in 2022. The price of bright steel rose by 39.1%, of concrete reinforcing steel mesh by 38.1%, and of steel tubes by 32.2%, compared with the annual average in 2021. In shell construction, for instance, steel is often used in combination with concrete to reinforce floor slabs, ceilings or walls. Overall, metal prices increased by 26.5% in 2022 from the previous year. The price of flat glass, which is usually used for windows, glass doors or glass walls, rose by 49.3% in 2022 compared with the annual average in 2021. For comparison: the producer price index for industrial products (total) increased by 32.9% on an annual average in 2022 compared with 2021. Excluding energy prices, the annual average producer prices were 14.0% higher than in 2021.
