In July construction costs increased slightly – by 0.2%

27.08.2013

Compared to June, the average level of construction costs in Latviain July 2013 grew by 0.2%. Maintenance and operational costs of machinery and equipment rose by 0.7%; prices of building materials, as well as labour remuneration of workers did not change in general.

In July the average level of construction costs was mainly affected by the increase of maintenance and operational costs of machinery and equipment on road construction.

As compared to July of the previous year construction costs increased by 1.6%. Labour remuneration of workers rose by 4.2%, maintenance and operational costs of machinery and equipment – by 2.2%, prices of building materials – by 0.1%.

Over a year overall level of construction costs was mostly affected by price increase of building materials in construction of transport facilities.

Changes in construction costs
compared to the corresponding month of the previous year, %

This year data on the prices of construction resources are provided by about 180 construction enterprises and 30 trade enterprises.Moreover, 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 2012.The share of enterprises with the volume of own account construction works exceeding LVL 1 million comprised 79%, in 20% of which the volume of own account construction works exceeded LVL 5 million per year.The criterion for the sample of trade enterprises is their turnover and specialization.

More information on construction costs is available in the CSB Database.Press release on changes of construction costs in August 2013 will be published on 26 September.

More information:
Producer Price Indices Section
Aļona Ivanova, phone: +371 67366798