Construction costs in April have increased slightly

29.05.2013

Compared to March, the average level of construction costs in Latvia in April 2013 grew by 0.2%. Prices of building materials increased by 0.3%, maintenance and operational costs of machinery and equipment remained the same, but labour remuneration of workers dropped by 0.1%. 

In April the average level of construction costs was mostly impacted by price growth of road construction materials, but reduction of labour remuneration of workers was determined by decrease of work volume in construction of buildings.

As compared to April of the previous year construction costs increased by 3.9%. Labour remuneration of workers grew by 7.1%, maintenance and operational costs of machinery and equipment – by 2.8%, prices of building materials – by 2.3%.

Over a year overall level of construction costs was mainly impacted by increase of labour remuneration of workers in construction of non-residential buildings and price rise of building materials in construction of transport facilities.

Changes in construction costs by main resource group

compared to the corresponding month of the previous year, %

This year data on the prices of construction resources are provided by about 180 construction enterprises and 30 trade enterprises. Moreover, construction cost index calculations are 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 2012. The share of enterprises with the volume of own account construction works exceeding LVL 1 million comprised 79%, in 20% of which the volume of own account construction works exceeded LVL 5 million per year. The criterion for the sample of trade enterprises is their turnover and specialization.

More information on construction costs is available in the CSB Database.Information on changes of construction costs in May 2013 will be published on 28 June 2013.

 

More information:
Producer Price Indices Section
Aļona Ivanova
Tel. 67366798