In July, construction costs increased by 0.3 %

25.08.2016

Data of the Central Statistical Bureau (CSB) show that, compared to June, in July 2016 the level of construction costs in Latvia grew by 0.3 %. Prices of building materials increased by 0.5 %, maintenance and operational costs of machinery and equipment rose by 0.3 %, whereas labour remuneration of workers did not change significantly.

Compared to July 2015, construction costs grew by 0.3 %. Labour remuneration of workers increased by 5.4 %, maintenance and operational costs of machinery and equipment rose by 1.5 %, whereas prices of building materials decreased by 2.3 %.

Construction cost indices (2010 = 100)

In 2016, data on prices of construction resources are provided by approximately 180 construction enterprises and more than 30 trade enterprises. When calculating the Construction Cost Index, 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 2015. The share of enterprises with the value of own account construction work exceeding EUR 1 million per year accounted for 74 %, 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. Data on changes of construction costs in August 2016 will be published on 27 September.

 

Media requests:
Sanda Rieksta
Information and Communication Section
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More information on data:
Aļona Ivanova
Producer Price Indices Section
E-mail: Alona [dot] Ivanova [at] csb [dot] gov [dot] lv
Phone: +371 67366884