Press Release

In June, construction costs increased by 0.5 %

Data of the Central Statistical Bureau (CSB) show that, compared to May, in June 2019 the level of construction costs in Latvia grew by 0.5 %. Labour remuneration of workers grew by 1.2 %, prices of building materials – by 0.3 %, but maintenance and operational costs of machinery and equipment – by 0.3 %.

In June, the average level of construction costs was most affected by the increase in labour remuneration for auxiliary workers of road building and construction of artificial structures, as well as assemblers.

Compared to June 2018, construction costs rose by 4.4 %. Labour remuneration of workers increased by 8.8 %, prices of building materials – by 3.3 %, but maintenance and operational costs of machinery and equipment – by 3.1 %.

In the 2nd quarter of 2019, as compared to the 1st quarter, the overall level of construction costs grew by 1.1 %. Labour remuneration of workers rose by 3.1 %, prices of building materials – by 0.6 %, but maintenance and operational costs of machinery and equipment – by 0.4 %.

In the 2nd quarter of 2019, as compared to the 2nd quarter of 2018, the overall level of construction costs increased by 4.3 %. Labour remuneration of workers grew by 8.4 %, prices of building materials – by 3.3 %, but maintenance and operational costs of machinery and equipment – by 3.1 %.

In 2019, the data on prices of construction resources were provided by approximately 200 construction enterprises and more than 50 trade enterprises. When calculating the Construction Cost Index, the 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 2018. The share of enterprises with the value of own account construction work exceeding EUR 1 million per year accounted for 87 %, in 36 % 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.

Information on changes of construction costs in July 2019 will be published on 27 August.

More information on construction cost indices in Latvia is available in the CSB website section Producer Prices – Metadata.

 

Media requests:
Communication Section
E-mail:
media@csb.gov.lv
Tālr.:+371 27880666


More information on data:
Ļubova Ņemsadze
Producer Price Indices Section
E-mail: Lubova.Nemsadze@csb.gov.lv
Tālr.+371 67366783

 

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