Compared to September, construction costs in October 2010 grew on average by 0.4%, according to the data of Central Statistical Bureau. Labour remuneration of workers increased by 1.4%, while maintenance and operational costs of machinery and equipment rose by 0.6%. Prices of building materials diminished by 0.2%.
Growth of construction costs in the renovation and construction of industrial, agricultural and trade buildings as well as in the construction of underground main pipelines had the greatest impact on overall level of construction costs.
In comparison with October of previous year, overall level of construction costs rose by 1.4%. Among main resource groups labour remuneration of workers grew by 8.3% and prices of building materials increased by 1.1%. In its turn, maintenance and operational costs of machinery and equipment reduced by 3.3%.
During the year cost growth in the construction of transport facilities, of industrial, agricultural and trade buildings had the greatest impact on 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 November 2010 will be published on 30 December 2010.
Prepared by Producer Price Indices Section
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