In June, construction costs grew by 0.2 %

27.07.2017

Data of the Central Statistical Bureau (CSB) show that, compared to May, in June 2017 the level of construction costs in Latvia increased by 0.2 %. Labour remuneration of workers1 rose by 0.4 %, prices of building materials grew by 0.2 %, whereas maintenance and operational costs of machinery and equipment increased by 0.1 %.

Compared to June 2016, construction costs increased by 2.0 %. Labour remuneration of workers grew by 3.9 %, prices of building materials increased by 1.9 %, while maintenance and operational costs of machinery and equipment rose by 0.8 %.

In June, the average level of construction costs was mostly affected by an increase in the labour remuneration of assemblers, as well as growth in the prices of dolomite chips.

Construction cost indices
(2010=100)

In the 2nd quarter of 2017, as compared to the 1st quarter, the overall level of construction costs increased by 1.3 %. Labour remuneration of workers grew by 3.6 %, maintenance and operational costs of machinery and equipment rose by 0.9 %, whereas prices of building materials increased by 0.7 %.

In the 2nd quarter of 2017, as compared to the 2nd quarter of 2016, the overall level of construction costs grew by 2.0 %. Labour remuneration of workers rose by 4.5 %, prices of building materials increased by 1.8 %, whereas maintenance and operational costs of machinery and equipment grew by 0.7 %.

In 2017, 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, 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 2016. The share of enterprises with the value of own account construction work exceeding EUR 1 million per year accounted for 72 %, in 26 % 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 on the Producer Prices section of the CSB database. Data on changes of construction costs in July 2017 will be published on 25 August.

 

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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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