On construction cost changes in March 2011

29.04.2011

Compared to February, construction costs in March 2011 decreased on average by 0.6%, according to the data of Central Statistical Bureau. Labour remuneration of workers reduced by 5.2%.The maintenance and operational costs of machinery and equipment rose by 1.8%, butprices of building materials increased by 0.1%.

Reduction of costs in the reconstruction and construction of industrial, agricultural and trade buildings as well as in the renovation and construction of education, healthcare and sports buildings had the greatest impact on overall level of construction costs.

In comparison with March of the previous year, overall level of construction costs rose by 0.2%. Among main resource groups the growth of 4.7% was observed in the maintenance and operational costs of machinery and equipment, but prices of building materials increased by 0.6%. In its turn, labour remuneration of workers decreased by 6.0%.

During the year overall level of construction costs mainly was influenced by the cost growth in the construction of transport facilities, as well as in the construction of underground main pipelines.

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

Compared to the 1st quarter of 2010,construction costs in the 1st quarter of 2011 rose on average by 0.7%. The maintenance and operational costs of machinery and equipment rose by 4.1%, butprices of building materials increased by 0.5%. Labour remuneration of workers diminished by 3.1%.

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. 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 April 2011 will be published on 30 May 2011.

 

Prepared by Producer Price Indices Section
Tatjana Ballode
tel. 67366813