On changes of construction costs in July 2011
Compared to June, construction costs in July 2011 decreased on average by 0.3%, according to the data of the Central Statistical Bureau. Labour remuneration of workers increased by 2.1%, maintenance and operational costs of machinery and equipment rose by 2.0%, while prices of building materials decreased by 2.3%.
Decrease in construction costs of transport facilities had the most significant lowering impact on the overall level of construction costs.
In comparison to July of the previous year, the overall level of construction costs rose by 1.6%. Maintenance and operational costs of machinery and equipment increased by 13.8%. In its turn, labour remuneration of workers decreased by 2.8%, but prices of building materials diminished by 2.0%.
During the year the overall level of construction costs was mostly influenced by the cost growth in the construction of underground main pipelines.
|Changes of construction costs by main resource groups compared to the corresponding month of the previous year|
|Changes of construction costs by types of construction compared to the corresponding month of the previous year, %|
In 2011 the price data on construction resources are obtained from more than 150 construction enterprises and 30 trade enterprises. Construction enterprises provide price data for all resources, including remuneration of workers employed in the construction, while trade enterprises indicate only the prices of building materials. The sample includes construction enterprises with the highest value of own account construction works in 2010. The share of enterprises with the work volume of up to LVL 1 million comprises 38%, while for 62% of enterprises the volume of own account construction works exceeded LVL 1 million per year.
The criterion for the sample of trade enterprises is their turnover and specialisation.
More detailed information is available in the CSP Database. Press release on changes of construction costs in August 2011 will be published on 28 September 2011.
Prepared by Producer Price Indices Section
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