On changes of construction costs in February 2013

02.04.2013

Compared to January, the average level of construction costs in Latvia in February 2013 didn’t change, according to the data of Central Statistical Bureau.Labour remuneration of workers and prices of building materials increased by 0.1%.But maintenance and operational costs of machinery and equipment reduced by 0.1%.

As compared to February of the previous year construction costs increased by 5.8%.Labour remuneration of workers grew by 18.3%, maintenance and operational costs of machinery and equipment – by 3.1%, prices of building materials – by 0.7%.

Rise of costs on civil engineering structures had the most significant increasing impact on the overall level of construction costs.

Changes in construction costs by main resource group
compared to the corresponding month of the previous year, %

In 2013 data on the prices of construction resources are provided by about 180 construction enterprises and 30 trade enterprises. Moreover, construction cost index (CCI) 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 2012. The share of enterprises with the volume of own account construction works exceeding LVL 1 million comprised 79%, in 20% of which the volume of own account construction works exceeded LVL 5 million per year. The criterion for the sample of trade enterprises is their turnover and specialization.

Data on CCI on January 2013 are updated.More detailed information is available in the CSB Database. Press release on changes of construction costs in March 2013 will be published on 26 April 2013.

 

Prepared by Producer Price Indices Section
Tatjana Ballode
Tel.67366813