Construction costs in August grew by 0.1%

26.09.2013

Compared to July, the average level of construction costs in Latvia in August 2013 increased by 0.1%. Prices of building materials, as well as maintenance and operational costs of machinery and equipment rose by 0.3%. Labour remuneration of workers reduced by 1.1%, mainly due to the decrease of construction of buildings.

In August the average level of construction costs was mostly affected by price increase of road construction materials.

As compared to August of the previous year construction costs rose by 1.5%. Labour remuneration of workers, as well as maintenance and operational costs of machinery and equipment grew by 2.0%, prices of building materials – by 0.8%.

Over a year overall level of construction costs was mostly affected by price increase of building materials in construction of transport facilities.

Changes in construction costs
compared to the corresponding month of the previous year, %

Data source: Central Statistical Bureau of Latvia

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 September 2013 will be published on 25 October 2013.

 

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