Construction cost growth in February – 0.1%

26.03.2015

Data of the Central Statistical Bureau (CSB) show that compared to January, construction cost level in Latvia in February 2015 grew by 0.1%. Prices of building materials increased by 0.1%, while labour remuneration of workers, as well as maintenance and operational costs of machinery and equipment did not change significantly.

Compared to February of the previous year, construction costs grew by 1.8%. Labour remuneration of workers increased by 7.6%, maintenance and operational costs of machinery and equipment - by 1.9%, and prices of building materials - by 0.2%.

Construction cost indices
(2010=100)

Data source: Central Statistical Bureau of Latvia

In 2015 data on prices of construction resources are provided by about 190 construction enterprises and 30 trade enterprises. Construction cost index calculations are additionally based on the prices of building materials submitted by the 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 2014. The share of enterprises with the value of own account construction work exceeding EUR 1 million per year comprised 60 %, in 27 % of which the value of own account construction work exceeded EUR 5 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. Information on changes of construction costs in March 2015 will be published on 29 April.

 

More information:
Producer Price Indices Section
Jeļena Kovaļova
Tel. +371 67366884