Construction cost growth in January - 0.3%

27.02.2015

Data of the Central Statistical Bureau (CSB) show that compared to December of the previous year, level of construction costs in Latvia in January 2015 increased by 0.3%. Labour remuneration of workers grew by 0.7%, prices of building materials – by 0.5%, but maintenance and operational costs of machinery and equipment reduced by 0.3%.

Compared to January of previous year, construction costs grew by 1.4%. Labour remuneration of workers increased by 7.4%, maintenance and operational costs of machinery and equipment - by 1.1%, but prices of building materials reduced by 0.1%.

Construction cost indices
(2010=100)

Data source: Central Statistical Bureau of Latvia

In January of this year weights used in calculation of construction cost index, which reflect value and structure of own account construction work  done by construction enterprises in 2014, were updated. In 2015 data on the 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 CSB database in section "Producer prices".

Information on changes of construction costs in February 2015 will be published on 26 March.

 

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