Construction costs in June reduced by 0.5%

27.07.2015

Data of Central Statistical Bureau (CSB) show that, compared to May, level of construction costs in Latvia in June 2015 reduced by 0.5%. Prices of building materials fell by 1.1%, maintenance and operational costs of machinery and equipment did not change significantly, but labour remuneration of workers increased by 0.6%.

Compared to June of previous year, construction costs fell by 0.3%. Prices of building materials decreased by 2.5%, maintenance and operational costs of machinery and equipment – by 0.1%, but labour remuneration of workers rose by 6.6%.

Construction cost indices
(2010=100)

In the 2nd quarter of 2015, compared to the 2nd quarter of 2014, overall level of construction costs remained the same. Prices of building materials fell by 1.9%, maintenance and operational costs of machinery and equipment – by 0.1%, but labour remuneration of workers increased by 6.5%.

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 May 2015 will be published on 27 August.

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