In April, construction costs decreased by 0.7 %
Data of the Central Statistical Bureau (CSB) show that, compared to March 2016, in April 2016 level of construction costs in Latvia reduced by 0.7 %. Prices of building materials decreased by 1.6 %, while labour remuneration of workers increased by 0.6 % and maintenance and operational costs of machinery and equipment – by 0.1 %. The drop in prices of building materials was mostly affected by the decrease in prices of road construction materials.
As compared to April 2015, construction costs fell by 1.2 %. Prices of building materials decreased by 4.2 %, while labour remuneration of workers increased by 4.5 % and maintenance and operational costs of machinery and equipment – by 0.8 %.
Construction cost indices
In 2016, data on prices of construction resources are provided by about 180 construction enterprises and 30 trade enterprises. Construction Cost Index calculations are based on the prices of building materials submitted by the enterprises for the calculation of producer price indices in industry and import price indices.
The sample includes construction enterprises with the highest value of own account construction works in 2015. The share of enterprises with the value of own account construction work exceeding EUR 1 million per year accounted for 74 %, in 33 % of which the value of own account construction work exceeded EUR 5 million per year. The criterion for the sample of trade enterprises is their turnover and specialisation.
More information on construction costs is available in the CSB database section Producer Prices. Data on changes of construction costs in May 2016 will be published on 29 June.
Beate Danusēviča, Sanda Rieksta
Information and Communication Section
E-mail: media [at] csb [dot] gov [dot] lv
Phone: + 371 67366924, + 371 67366621,+ 371 27880666
More information about data:
Producer Price Indices Section
E-mail: Anita [dot] Merca [at] csb [dot] gov [dot] lv
Phone: + 371 67366813
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