On construction cost changes in November 2011
Compared to October, construction costs in November 2011 decreased on average by 1.4%, according to the data of the Central Statistical Bureau. Prices of building materials decreased by 2.9% and labour remuneration of workers diminished by 1.9%. In its turn, maintenance and operational costs of machinery and equipment grew by 2.1%.
Decrease in construction costs of transport facilities had the most significant lowering impact on the overall level of construction costs.
In comparison to November of the previous year, the overall level of construction costs rose by 3.8%. Maintenance and operational costs of machinery and equipment increased by 16.4%, labour remuneration of workers rose by 3.1%, whereas prices of building materials decreased by 1.5%.
During the year the overall level of construction costs was mostly influenced by the cost growth in the construction of underground main pipelines and transport facilities.
|Changes in construction costs by main resource group compared to the corresponding month of the previous year|
|Changes in construction costs by type of construction, compared to the corresponding month of the previous year, %|
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, including remuneration of workers employed in the construction, 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 in 62% of enterprises the volume of own account construction works exceeds 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 December 2011 will be published on 30 January 2012.
Prepared by Producer Price Indices Section
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