Construction cost growth in August - 0.3%

25.09.2014

Latest data of the Central Statistical Bureau show that compared to July, construction costs in Latvia in August 2014 increased by 0.3%. Labour remuneration of workers increased by 1.4%, maintenance and operational costs of machinery and equipment - by 0.2% and prices of building materials - by 0.1%.

Compared to August of the previous year, the average level of construction costs increased by 0.2%. Labour remuneration of workers increased by 4.1%, maintenance and operational costs of machinery and equipment - by 0.1%, while prices of building materials declined by 0.9%.

Construction cost indices

(2010=100)

Data source: Central Statistical Bureau of Latvia

In 2014 data on prices of construction resources are provided by about 180 construction enterprises and 30 trade enterprises. Construction cost index calculations are also based on the prices of building materials submitted by enterprises for the calculation of producer price indices in industry and import price indices.

The sample includes construction enterprises with the highest value of own account construction works in 2013. The share of enterprises with the value of own account construction work exceeding EUR 1.4 million per year accounted for 64%, in 20% of which the value of own account construction work exceeded EUR 7 million per year. The criterion for the sample of trade enterprises is their turnover and specialisation.

More information on construction costs is available in the Producer prices. Press release on changes of construction costs in September 2014 will be published on 27 October.

 

Additional information:
Producer Price Indices Section
Jeļena Kovaļova
tel. +371 67366678