Press Release

On changes of construction costs in January 2011

Compared to the December 2010 construction costs in Latvia in January 2011 rose on average by 1.1%, according to the data of the Central Statistical Bureau. The maintenance and operational costs of machinery and equipment rose by 2.9%, but prices of building materials increased by 0.7%. Labour remuneration of workers has remained at the same level.

Rise of costs in the construction of transport facilities and construction of underground main pipelines had the greatest increasing impact on the overall level of construction costs.

In comparison with January of the previous year, overall level of construction costs rose by 1.2%. Among main resource groups the most notable growth of 4.2% was observed in the maintenance and operational costs of machinery and equipment. Prices of building materials increased by 0.6%. In its turn, labour remuneration of workers decreased by 1.0%.

Changes of construction costs by main resource groups compared to corresponding month of previous year

In 2011 the price data on construction resources are obtained from more than 150 construction enterprises and 30 trade enterprises. Construction enterprises provide price data for all resources, while trade enterprises indicate only the prices of building materials. The sample includes construction enterprises with the highest value of own account construction works. The criterion for the sample of trade enterprises is their turnover and specialisation.

 

Prepared by Producer Price Indices Section
Tatjana Ballode
tel. 67366813

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