In January, construction costs increased by 0.3 %

28.02.2018

Data of the Central Statistical Bureau (CSB) show that, compared to December 2017, in January 2018 the level of construction costs in Latvia grew by 0.3 %. Prices of building materials rose by 0.9 %, maintenance and operational costs of machinery and equipment did not change significantly, but labour remuneration of workersdropped by 0.4 %.

Compared to January 2017, construction costs rose by 3.5 %. Labour remuneration of workers grew by 7.4 %, prices of building materials and maintenance and operational costs of machinery and equipment – by 2.5 %.

Changes in the construction costs over the corresponding month of the previous year
(as per cent)

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 February 2018 will be published on 27 March.

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 professions:
-       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.

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More information on data:
Ļubova Ņemsadze
Producer Price Indices Section
E-mail: Lubova [dot] Nemsadze [at] csb [dot] gov [dot] lv
Phone: +371 67366783