Mexico: average annual change of construction costs 2005-2022, by type
In 2021 and 2022, the price of building materials in Mexico increased by nearly 15 percent, while other costs increased more steadily. Salaries had an annual growth rate from around three to four percent until 2016, since then they have been rising at a faster pace. Building construction, along with transport and urbanization, were the segments that made up most of the production value in the industry.
