Construction costs in November decreased by 0.1%
Compared to October, the average level of construction costs in Latvia in November 2013 dropped by 0.1%.Maintenance and operational costs of machinery and equipment fell by 0.7%, prices of building materials remained the same, but labour remuneration of workers increased by 0.6%.
Compared to November of previous year, construction costs grew by 1.5%.Labour remuneration of workers rose by 3.8%, maintenance and operational costs of machinery and equipment – by 1.4% and prices of building materials – by 0.6%.
Over a year overall level of construction costs was mostly affected by price changes of resources in construction of transport facilities.
Construction cost indices
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 December 2013 will be published on 28 January 2014.
Producer Price Indices Section
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