On construction cost changes in July 2010

31.08.2010

Compared to June,construction costs in July 2010 grew on average by 0.7%, according to the data of Central Statistical Bureau. Prices of construction materials increased by 1.4%, but maintenance and operational costs of machinery and equipment - by 0.4%.Labour remuneration of workers diminished by 0.7%.Growth of costsin the construction of transport facilities and construction of underground main pipelines had the greatest increasing impact on overall level of construction costs.

Compared to July 2009,construction costs in July 2010 on average decreased by 1.6%.The most notable reduction among main resource groups witnessed the maintenance and operational costs of machinery and equipment – of 7.0% and prices of building materials –of 1.1%.Labour remuneration of workers grew by 4.6%.

Changes of construction costs by main resource groups compared to corresponding month of previous year

The prices data on construction resources are obtained from 140 construction enterprises and 35 trade enterprises.Construction enterprises provide price data for all resources while trade enterprises indicate only the prices of building materials.The construction enterprises-respondents are selected by way of target sampling choosing the enterprises with the highest value of own account construction.The sampled construction enterprises differ in specialisation and represent various regions of Latvia.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 August 2010 will be published on September 29, 2010.

Prepared by Producer Price Indices Section
Inga Kunstvere
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