Construction costs in July reduced by 0.1%

27.08.2015

Data of Central Statistical Bureau (CSB) show that, compared to June, level of construction costs in Latvia in July 2015 dropped by 0.1%. Labour remuneration of workers decreased by 0.5%, which was affected by reduction of remuneration of workers in construction of buildings. But prices of building materials, maintenance and operational costs of machinery and equipment did not change significantly.

Compared to July of the previous year, construction costs grew by 0.2%. Labour remuneration of workers increased by 6.6%, but prices of building materials – reduced by 1.7%, and maintenance and operational costs of machinery and equipment did not change significantly.

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 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". Data on changes of construction costs in August 2015 will be published on 25 September.

 

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