In November, construction costs decreased by 0.1 %

27.12.2016

Data of the Central Statistical Bureau (CSB) show that, compared to October, in November 2016 the level of construction costs in Latvia dropped by 0.1 %. Labour remuneration of workers reduced by 0.8 %, maintenance and operational costs of machinery and equipment dropped by 0.1 %, whereas the prices of building materials went up by 0.2 %.

Compared to November 2015, construction costs increased by 0.1 %. Labour remuneration of workers grew by 4.0 %, maintenance and operational costs of machinery and equipment rose by 1.2 %, whereas prices of building materials decreased by 2.0 %.

In November, the overall level of construction costs was mostly affected by a decrease in the labour remuneration of asphalt pavers and road construction and man-made construction auxiliary workers, which was due to a decrease in the overall volume of work.

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 December 2016 will be published on 26 January 2017.

 

Media requests:
Beate Danusēviča
Information and Communication Section
E-mail: media [at] csb [dot] gov [dot] lv
Phone: +371 67366924, +371 27880666
www.csb.gov.lv
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More information on data:
Anita Merca
Producer Price Indices Section
E-mail: Anita [dot] Merca [at] csb [dot] gov [dot] lv
Phone: +371 67366813