In March, construction costs grew by 0.1 %

28.04.2017

Data of the Central Statistical Bureau (CSB) show that, compared to February, in March 2017 the level of construction costs in Latvia increased by 0.1 %. Maintenance and operational costs of machinery and equipment rose by 0.3 %, labour remuneration of workers increased by 0.1 %, whereas prices of building materials did not change significantly.

Compared to March 2016, construction costs increased by 0.3 %. Labour remuneration of workers increased by 2.9 %, maintenance and operational costs of machinery and equipment – by 0.3 %, whereas prices of building materials reduced by 0.5 %.

In March, the average level of construction costs was mostly affected by an increase in the maintenance and operational costs of bulldozers and excavators.

Construction cost indices
(2010=100)

In the 1st quarter of 2017, as compared to the 4th quarter of 2016, the overall level of construction costs increased by 0.4 %. Prices of building materials rose by 1.1 %, whereas labour remuneration of workers decreased by 0.3 % and maintenance and operational costs of machinery and equipment dropped by 0.1 %.

In the 1st quarter of 2017, as compared to the 1st quarter of 2016, the overall level of construction costs increased by 0.3 %. Labour remuneration of workers grew by 3.0 %, maintenance and operational costs of machinery and equipment rose by 0.3 %, whereas prices of building materials decreased by 0.6 %.

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 April 2017 will be published on 29 May.

 

 

 

Media requests:
Kalvis Pētersons
Information and Communication Section
E-mail: media [at] csb [dot] gov [dot] lv
Phone: +371 67366924, +371 27880666
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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