Construction costs in October decreased by 0.1%

27.11.2014

Latest data of the Central Statistical Bureau (CSB) show that compared to September, construction costs in Latvia in October 2014 decreased by 0.1%. Prices of building materials and labour remuneration of workers reduced by 0.2%, maintenance and operational costs of machinery and equipment rose by 0.3%.

Compared to October of 2013, the average level of construction costs increased by 0.1%. Labour remuneration of workers grew by 3.4%, but maintenance and operational costs of machinery and equipment - reduced by 0.2% and prices of building materials - by 0.7%.

Construction cost indices

(2010=100)

Data source: Central Statistical Bureau of Latvia

In 2014 data on prices of construction resources are provided by about 180 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 2013. The share of enterprises with the value of own account construction work exceeding EUR 1.4 million per year comprised 64%, in 20% of which the value of own account construction work exceeded EUR 7 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. Press release on changes of construction costs in November 2014 will be published on 30 December.

 

More information:
Producer Price Indices Section
Lolita Grase
Tel. +371 67366678