In February, construction costs increased by 0.3 %

27.03.2018

Riga, 27.03.2018

Data of the Central Statistical Bureau (CSB) show that, compared to January, in February 2018 level of construction costs in Latvia grew by 0.3 %. Labour remuneration of workers1 rose by 0.9 %, while prices of building materials as well as maintenance and operational costs of machinery and equipment by 0.1 %.

In February, the average level of construction costs was mostly affected by increase in labour remuneration of assemblers as well as concrete workers and workers of related professions.

Compared to February 2017, construction costs went up by 3.5 %. Labour remuneration of workers grew by 7.6 %, prices of building materials by 2.5 %, while maintenance and operational costs of machinery and equipment by 2.4 %.

Construction cost changes
(as per cent, compared to the corresponding month of the previous year)

 

In 2018, the data on prices of construction resources are provided by approximately 190 construction enterprises and more than 40 trade enterprises. When calculating the Construction Cost Index, the prices of building materials submitted by enterprises for the calculation of producer price indices in industry and import price index are also used.

The sample includes construction enterprises with the highest value of own account construction works in 2017. The share of enterprises with the value of own account construction work exceeding EUR 1 million per year accounted for 80 %, in 33 % 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 Producer Prices section of the CSB database. Information on changes of construction costs in March 2018 will be published on 27 April.

More information on construction cost indices in Latvia is available in the CSB website section Producer Prices – Key Indicators – Metadata.

 

1Hourly gross labour remuneration of workers employed in construction broken down by main profession:

  • bricklayers and workers of related professions;
  • concrete workers and workers of related professions;
  • carpenters and builders;
  • workers carrying out finishing works (roofers, plasterers, sanitary technicians and others);
  • painters and workers of related professions;
  • electricians;
  • asphalt layers;
  • auxiliary workers of road building and construction of artificial structures;
  • assemblers; 
  • welders.

 

Media requests:
Communication Section
E-mail: media [at] csb [dot] gov [dot] lv
Phone: +371 67366621, +371 27880666
 

More information on data:
Aļona Ivanova
Producer Price Indices Section
E-mail: Alona [dot] Ivanova [at] csb [dot] gov [dot] lv
Phone: +371 67366884