On changes of construction costs in October 2011
Compared to September, construction costs in October 2011 grew on average by 2.0%, according to the data of the Central Statistical Bureau. Labour remuneration of workers increased by 3.7%, prices of building materials rose by 2.4%, whereas maintenance and operational costs of machinery and equipment decreased by 0.2%.
Growth in construction costs of transport facilities had the most significant increasing impact on the overall level of construction costs. The most notable rise was recorded in prices of construction materials for road building, including prices of dolomite breakstone and sand.
In comparison with October of the previous year, the overall level of construction costs rose by 4.3%. Maintenance and operational costs of machinery and equipment increased by 12.3%, labour remuneration of workers rose by 4.0%, prices of building materials grew by 0.9%.
During the year the overall level of construction costs was mostly influenced by the cost growth in the construction of transport facilities and underground main pipelines.
|Changes of construction costs by main resource group compared to the corresponding month of the previous year|
|Changes of construction costs by type 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 in 62% of enterprises the volume of own account construction works exceeds 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 CSB Database. Press release on changes of construction costs in November 2011 will be published on 29 December 2011.
Prepared by Producer Price Indices Section
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