Compared to April, construction costs in May 2010 decreased on average by 0.1%, according to the data of Central Statistical Bureau. The maintenance and operational costs of machinery and equipment decreased by 2.6%, but prices of building materials - by 0.2%. Labour remuneration of workers grew by 3.5%. Reduction of costs in the construction of underground main pipelines as well as construction of transport facilities had the greatest lowering impact on overall level of construction costs.
Compared to May 2009, construction costs in May 2010 diminished on average by 3.0%. The most notable reduction among main resource groups witnessed maintenance and operational costs of machinery and equipment – 7.5% and prices of building materials -1.8%. Labour remuneration of workers grew by 0.8%.
|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 June 2010 will be published on July 29, 2010.
Prepared by Producer Price Indices Section
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