On changes of construction costs in September 2011
Compared to August, construction costs in September 2011 grew on average by 0.8%, according to the data of Central Statistical Bureau. Prices of building materials rose by 1.0%, labour remuneration of workers increased by 0.9%, but maintenance and operational costs of machinery and equipment grew by 0.4%.
Influenced by the rise in prices for building materials used in road building, the increase in costs of transport facilities had the greatest increasing impact on overall level of construction costs.
In comparison with September of the previous year, the overall level of construction costs has grown by 2.7%. Maintenance and operational costs of machinery and equipment increased by 13.2%, but labour remuneration of workers rose by 1.7%. The prices of building materials diminished by 1.7%. Most notable reduction was recorded in prices of wall and ceiling finishing materials as well as in prices of floor coverings.
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, %|
Compared to the 3rd quarter of 2010, construction costs in the 3rd quarter of 2011 rose on average by 2.1%. Maintenance and operational costs of machinery and equipment increased by 13.7%. Prices of building materials diminished by 1.9%, but labour remuneration of workers dropped by 1.0%.
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 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 data base. Press release on changes of construction costs in October 2011 will be published on 29 November 2011.
Prepared by Producer Price Indices Section
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