Press Release

In March, construction costs increased by 0.2 %

Data of the Central Statistical Bureau (CSB) show that, compared to February, in March 2019 the level of construction costs in Latvia rose by 0.2 %. Labour remuneration of workers went up by 0.4 %, prices of building materials and maintenance and operational costs of machinery and equipment by 0.1 %.

In March, the average level of construction costs was mainly influenced by the increase in labour remuneration of auxiliary workers of road building and construction of artificial structures, as well as upturn in prices of road construction materials – dolomite breakstone and gravel.

Compared to March 2018, construction costs went up by 4.8 %. Labour remuneration of workers grew by 7.3 %, prices of building materials by 4.4 %, and maintenance and operational costs of machinery and equipment by 3.8 %.

In the 1st quarter of 2019, compared to the 4th quarter of 2018, the overall level of construction costs increased by 1.0 %. Prices of building materials rose by 1.1 %, labour remuneration of workers by 0.9 %, and maintenance and operational costs of machinery and equipment by 0.8 %.

In the 1st quarter of 2019, compared to the 1st quarter of 2018, the overall level of construction costs increased by 5.0 %. Labour remuneration of workers grew by 8.2 %, prices of building materials by 4.5 %, and maintenance and operational costs of machinery and equipment by 3.7 %.

In 2019, the data on prices of construction resources are 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 used to sample trade enterprises is their turnover and specialisation.

Information on construction cost changes in April 2019 will be published on 29 May.

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

 

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

 

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

 

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