On construction cost changes in November 2010
Compared to October,construction costs in November 2010 decreased on average by 0.9%, according to the data of Central Statistical Bureau. The maintenance and operational costs of machinery and equipment reduced by 1.4%, labour remuneration of workers – by 1.1%, but the prices of building materials – by 0.6%.
Drop of construction costs in the construction of transport facilities and in the construction of multi-dwelling residential buildings had the greatest impact on overall level of construction costs.
Compared to November of previous year, the overall level of construction costs increased by 0.5%. Among main resource groups labour remuneration of workers grew by 7.2% and prices of building materials increased by 0.3%. In its turn, maintenance and operational costs of machinery and equipment fell by 4.3%.
Over the year growth of costs in the construction of transport facilities, in the reconstruction and construction of industrial, agricultural and trade buildings had the greatest impact on the overall level of construction costs.
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 December 2010 will be published on 28 January 2011.
Prepared by Producer Price Indices Section
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