France cost-of-construction index: 4-quarter average
France cost-of-construction index: 4-quarter average stood at 2,075.25 in Q2 2026, according to INSEE – Institut national de la statistique et des études économiques (BDM). It is one of the indicators in the Rents table (Value · Quarterly), with a complete series running from Q3 1954 to Q2 2026. The complete series with an interactive chart, free to download.
This indicator in the Rents table
| Indicator | Q3-2026 | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost-of-Construction Index (CCI) - Average of the 4 latest values | 2,075.25 | 2,071 | 2,086.5 | 2,099 | 2,120.75 | 2,150.5 | 2,170.75 | 2,184.25 | 2,175 | ||
| Rent reference index (RRI) | 148.06 | 148.37 | 146.6 | 145.78 | 145.77 | 146.68 | 145.47 | 144.64 | 144.51 | 145.17 | |
| Rent reference index (RRI) - Annual change | 1.57 | 1.15 | 0.78 | 0.79 | 0.87 | 1.04 | 1.4 | 1.82 | 2.47 | 3.26 |
Understanding france cost-of-construction index: 4-quarter average
This indicator calculates the moving mean of the cost-of-construction index over the current period and the preceding three quarters, smoothing out short-term volatility in material and labor expenditures. By averaging four consecutive observations, this variant dampens seasonal fluctuations and irregular monthly spikes that often obscure the underlying trajectory of structural outlays. Unlike the unadjusted quarterly metric, this smoothed version provides a broader perspective on construction cost movements by incorporating past quarters into every reported figure.
When reviewing this series, analysts should account for the inherent lag introduced by averaging four separate data points, which delays the recognition of sudden turning points in construction outlays. Year-on-year comparisons of this smoothed average remain redundant because the underlying values already incorporate multi-period smoothing. Comparing this metric directly with single-quarter indicators requires caution, as the smoothing mechanism intentionally mutes recent pricing acceleration or deceleration.
Frequently asked questions
- What is the purpose of taking a four-quarter average?
- The moving mean filters out temporary spikes and seasonal volatility in construction outlays to reveal underlying cost trends.
- Does this smoothed series introduce a data lag?
- Yes, incorporating past quarters delays the reflection of sudden turning points compared to single-quarter unadjusted measures.
- Should annual changes be calculated on this moving average?
- Annual comparisons are generally unnecessary because the four-period averaging process already smooths out short-term fluctuations.