Construction cost index (CCI)

Definition: 

The construction cost index reflects changes in the costs of construction work performed during the reference period compared with the base period.

For the calculation of the CCI, the following components are compared: prices of the building materials used, hourly gross labour remuneration of construction workers, maintenance and operational costs of machinery and mechanical appliances.

Hourly 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.

The CCI is input price index, as it presents price changes for the main types of resources invested in the construction. The CCI does not include overheads, contractor’s profit indicators and efficiency changes, which is a part of output price index and presents price changes for the completed construction objects. 

The CCI is not a subject to seasonal corrections.

Methodology pages: