Construction costs in November reduced by 0.4%

29.12.2015

Data of the Central Statistical Bureau (CSB) show that, compared to October, the level of construction costs in Latvia in November 2015 decreased by 0.4%. Prices of building materials and labour remuneration of workers went down by 0.7%. Price drop of building materials was mostly affected by decrease in prices of road construction materials, but reduction of labour remuneration of workers – by fall of remuneration of workers in transport objects. But maintenance and operational costs of machinery and equipment grew by 0.3%.

Compared to November 2014, construction costs declined by 0.8%. Prices of building materials went down by 3.1%, maintenance and operational costs of machinery and equipment – by 0.8%, in turn, labour remuneration of workers rose by 6.2%.

Construction Cost Indices (2010 = 100)

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 accounted for 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 December 2015 will be published on 28 January.

 

Media requests:
Beate Danusēviča, Kristīne Romanovska
Information and Communication Section
media [at] csb [dot] gov [dot] lv
Tel.: +371 67366924, +371 67366621, +371 27880666
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More information on data:
Producer Price Indices Section
Jeļena Kovaļova
jelena [dot] kovalova [at] csb [dot] gov [dot] lv
Tel. +371 67366884