Egypt building material prices on the rise

Building materials in Egypt saw near-across the board rises in August, figures from state statistics agency CAPMAS showed on Wednesday. Key construction supplies broadly climbed on both monthly and annual bases with one significant exception. The price of steel rebar rose 2.64 per cent between July and August to reach an average of LE5,093 per tonne. But this rise was dwarfed by the material's annual climb --  a massive 35.89 per cent. White cement was up 4.26 per cent between July and August, reaching LE41.85 per 50 kilos. Its annual rise was less pronounced at 5.42 per cent. Construction timber saw a slighter monthy rise of 1.74 per cent to hit LE1,755 per cubic metre, and climbed 6.62 per cent year-on-year. Ordinary Portland Cement slightly reversed the trend, its price dipping a monthly 0.65 per cent to LE26.08 per 50kg sack. This drop completed a 4.01 per cent annual fall in value for the material.