Compared to May, the average level of construction costs in Latvia in June 2013 dropped by 0.9%. Prices of building materials decreased by 2.1%, maintenance and operational costs of machinery and equipment – by 0.3%. Labour remuneration of workers grew by 2.1%.
In June the average level of construction costs was mostly affected by price decrease of road construction materials.
As compared to June of the previous year construction costs increased by 2.0%. Labour remuneration of workers rose by 6.5%, maintenance and operational costs of machinery and equipment – by 1.8%, prices of building materials – by 0.1%.
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, %
In the 2nd quarter of 2013, compared to the 2nd quarter of 2012, construction costs on average increased by 3.1%. Labour remuneration of workers grew by 6.5%, maintenance and operational costs of machinery and equipment – by 2.3%, prices of building materials – by 1.6%.
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 July 2013 will be published on 27 August 2013.
Producer Price Indices Section
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