Compared to May,construction costs in June 2011 increased on average by 0.5%, according to the data of the Central Statistical Bureau.Maintenance and operational costs of machinery and equipment increased by 1.0%, while the labour remuneration of workers and prices of building materials rose by 0.3%.
Increase in costs for the reconstruction and construction of industrial, agricultural and trade buildings had the greatest impact on the overall level of construction costs.
In comparison with June of the previous year, the overall level of construction costs rose by 2.6%. Maintenance and operational costs of machinery and equipment increased by 12.0%, but the price level of building materials grew by 1.7%. In its turn, labour remuneration of workers during this time period diminished by 5.5%.
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 groups
compared to the corresponding month of the previous year
Compared to the 2nd quarter of 2010, construction costs in the 2nd quarter of 2011 rose on average by 1.3%. The maintenance and operational costs of machinery and equipment went up by 9.1%, but prices of building materials increased by 0.5%. Labour remuneration of workers decreased by 5.6%.
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, 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 CSB database. Press release on changes of construction costs in July 2011 will be published on 26 August 2011.
Prepared by Producer Price Indices Section
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