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Investigating the impact of inflation on building materials prices in construction industry
Journal of Building Engineering ( IF 6.7 ) Pub Date : 2020-05-16 , DOI: 10.1016/j.jobe.2020.101485
Muhammad Ali Musarat , Wesam Salah Alaloul , M.S. Liew , Ahsen Maqsoom , Abdul Hannan Qureshi

In spite of the advancement in the management of the construction industry, construction projects still facing the issue of cost overrun. Many factors influence the cost overrun but one of the most critical is the inflation rate, which plays a vital role in deviating prices of construction materials during the project lifecycle. Therefore, this study aims to investigate the behaviour of building materials prices and their correlation with the inflation rate. The Spearman test was adopted to measure the correlation between the building materials prices and the inflation rate. It was revealed that a significant positive and negative relationships between the inflation rate and the building materials prices exist, indicating that the change in the inflation rate will also affect the prices which will result in deviating the initial budget of a project. The correlation was investigated by the individual materials of cement, steel reinforcement, plumbing works, sanitary fitting, ironmongery, bricks, roofing, ceiling board, paints and plywood. Every materials group is representing an individual industry thus it can be concluded that the inflation rate is influencing these industries as well. Therefore, it is essential to consider the inflation rate while calculating the budget at the beginning of the construction projects, with a recommendation to develop a budget estimation model which can incorporate the changing behaviour of the building materials prices due to the inflation rate along with other essential parameters in setting up the project budget.



中文翻译:

调查通胀对建筑业建筑材料价格的影响

尽管建筑业的管理有所进步,但建设项目仍面临成本超支的问题。影响成本超支的因素很多,但最关键的因素之一是通货膨胀率,通货膨胀率在项目生命周期中对建筑材料价格的偏离起着至关重要的作用。因此,本研究旨在调查建筑材料价格的行为及其与通货膨胀率的关系。采用Spearman检验来衡量建筑材料价格和通货膨胀率之间的相关性。据透露,通货膨胀率与建筑材料价格之间存在明显的正负关系,表明通货膨胀率的变化也将影响价格,这将导致项目初始预算的偏离。通过水泥,钢筋,水暖工程,卫生设备,铁艺,砖,屋顶,天花板,油漆和胶合板的各种材料对相关性进行了研究。每个材料组都代表一个单独的行业,因此可以得出结论,通货膨胀率也正在影响这些行业。因此,在建设项目开始时计算预算时,必须考虑通货膨胀率,并建议开发一个预算估计模型,该模型可以将由于通货膨胀率引起的建筑材料价格变化行为与其他因素结合起来。建立项目预算中的基本参数。通过水泥,钢筋,管道工程,卫生设备,铁艺,砖块,屋顶,天花板,油漆和胶合板的各种材料对相关性进行了研究。每个材料组都代表一个单独的行业,因此可以得出结论,通货膨胀率也正在影响这些行业。因此,在建设项目开始时计算预算时,必须考虑通货膨胀率,并建议开发一个预算估计模型,该模型可以将由于通货膨胀率引起的建筑材料价格变化行为与其他因素结合起来。建立项目预算中的基本参数。通过水泥,钢筋,水暖工程,卫生设备,铁艺,砖,屋顶,天花板,油漆和胶合板的各种材料对相关性进行了研究。每个材料组都代表一个单独的行业,因此可以得出结论,通货膨胀率也正在影响这些行业。因此,在建设项目开始时计算预算时,必须考虑通货膨胀率,并建议开发一个预算估计模型,该模型可以将由于通货膨胀率引起的建筑材料价格变化行为与其他因素结合起来。建立项目预算中的基本参数。屋面,天花板,油漆和胶合板。每个材料组都代表一个单独的行业,因此可以得出结论,通货膨胀率也正在影响这些行业。因此,在建设项目开始时计算预算时,必须考虑通货膨胀率,并建议开发一个预算估计模型,该模型可以将由于通货膨胀率引起的建筑材料价格变化行为与其他因素结合起来。制定项目预算时的基本参数。屋面,天花板,油漆和胶合板。每个材料组都代表一个单独的行业,因此可以得出结论,通货膨胀率也正在影响这些行业。因此,在建设项目开始时计算预算时,必须考虑通货膨胀率,并建议开发一个预算估计模型,该模型可以将由于通货膨胀率引起的建筑材料价格变化行为与其他因素结合起来。建立项目预算中的基本参数。

更新日期:2020-05-16
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