In March, construction costs increased by 0.2 %

27.04.2016

Data of the Central Statistical Bureau (CSB) show that, compared to February 2016, in March 2016 level of construction costs in Latvia grew by 0.2 %. Labour remuneration of workers went up by 0.7 %, maintenance and operational costs of machinery and equipment – by 0.3 %, while prices of building materials went down by 0.1 %.

Compared to March 2015, construction costs decreased by 1.0 %. Prices of building materials dropped by 4.3 %, whereas labour remuneration of workers increased by 6.4 % and maintenance and operational costs of machinery and equipment – by 0.7 %.

Construction cost indices
(2010=100)

Data source: Central Statistical Bureau, RC07. Construction cost indices by kind of resource by month

Compared to the 1st quarter of 2015, in the 1st quarter of 2016 the overall level of construction costs decreased by 1.1 %. Prices of building materials dropped by 4.5 %, whereas labour remuneration of workers increased by 6.0 % and maintenance and operational costs of machinery and equipment – by 0.6 %.

In 2016, data on prices of construction resources are provided by about 180 construction enterprises and 30 trade enterprises. 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 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 CSB database in section Producer Prices. Data on changes of construction costs in April 2016 will be published on 27 May.

 

 

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Beate Danusēviča, Kristīne Romanovska
Information and Communication Section
E-mail: media [at] csb [dot] gov [dot] lv
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More information on data:
Baiba Alksnīte
Producer Price Indices Section
Baiba [dot] Alksnite [at] csb [dot] gov [dot] lv
Tel. + 371 67366696