Construction costs in May grew by 0.1%

30.06.2014

Compared to April, level of construction costs in Latvia in May 2014 increased by 0.1%. Labour remuneration of workers grew by 1.4%, but prices of building materials and maintenance and operational costs of machinery and equipment reduced by 0.1%.

Compared to May of the previous year, average level of construction costs has not changed significantly. Labour remuneration of workers increased by 4.0%, maintenance and operational costs of machinery and equipment - by 0.9%, but prices of building materials reduced by 1.7%.

Construction cost indices

(2010=100)

Data source: Central Statistical Bureau of Latvia

In 2014 data on the prices of construction resources are provided by about 180 construction enterprises and 30 trade enterprises. Moreover, construction cost index calculations are also 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 2013. The share of enterprises with the value of own account construction work exceeding EUR 1.4 million (LVL 1.0 million) per year comprised 64%, in 20% of which the value of own account construction work exceeded EUR 7 million (LVL 5.0 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 Producer prices. Information on changes of construction costs in June 2014 will be published on 25 July.

 

More information:
Producer Price Indices Section
Jeļena Kovaļova
tel. +37167366884