Analytics, Construction, Lithuania, Real Estate
International Internet Magazine. Baltic States news & analytics
Thursday, 18.04.2024, 04:41
In December construction input prices grew by 0.5% in Lithuania
Print version |
|---|
The change was mainly influenced by an increase in wages and salaries – 1.2%, and building materials and products – 0.2%.
As for building materials and products, the largest price growth over the month was observed for pipes – 1.3%, wood products – 0.6%, fabricated metal products, electrical engineering materials, concrete and mortar – 0.1% each, while prices for insulation materials dropped by 0.5, finishing materials – 0.2%.
Hourly labour costs on operation of construction machines and mechanisms decreased by only 0.02%.
As for buildings and structures, the largest price growth over the month was observed for the construction of utility infrastructure (except wastewater pipelines) – 0.9, construction of residential buildings – 0.4%. A 0.4% price growth was observed for renovation of buildings.
Over the year (December 2014, against December 2013), construction input prices increased by 1.7%. It was conditioned by a 5.5% increase in wages and salaries, 0.7% – hourly labour costs on operation of construction machines and mechanisms, 0.2% – building materials and products.
As for building materials and products, the largest price growth over the year was observed for concrete and ferroconcrete products – 2.8, wood products – 2.2, general building materials – 1.3%, while prices for finishing materials dropped by 1.9, pipes – 1, insulation materials – 0.7%.
As for buildings and structures, the largest price growth over the year was observed for the construction of residential buildings – 2.6%; the same price growth was observed for renovation of buildings.
Table 1. Changes in construction input prices by type of structure, December 2014, %
|
Types of structures according to CC1 |
Relative
share |
Price
growth, December 2014, |
|
|
November 2014 |
December 2013 |
||
|
All structures |
100.0 |
0.5 |
1.7 |
|
Residential buildings |
9.7 |
0.4 |
2.6 |
|
Non-residential buildings |
33.4 |
0.3 |
1.9 |
|
Administrative |
10.9 |
0.3 |
2.0 |
|
Industrial |
15.6 |
0.3 |
1.9 |
|
Trade |
6.9 |
0.3 |
1.6 |
|
Civil engineering units |
56.9 |
0.6 |
1.5 |
|
Utility infrastructure (except for wastewater pipelines) |
29.1 |
0.9 |
1.5 |
|
Wastewater pipelines |
9.9 |
0.4 |
1.7 |
|
Roads and streets |
17.9 |
0.2 |
1.3 |
|
Renovation of buildings |
x |
0.4 |
2.6 |
x – the indicator is not calculated in such expression
____________________
1 CC – Classification of Types of Construction
Table 2. Changes in prices for the main construction input component groups, December 2014, %
|
Construction input component groups |
Relative
share (weight) |
Price
growth, drop (–), December 2014, |
|
|
November 2014 |
December 2013 |
||
|
Total construction costs |
100.0 |
0.5 |
1.7 |
|
Materials and products |
62.7 |
0.2 |
0.2 |
|
Operation of machines and mechanisms |
8.1 |
0.0 |
0.7 |
|
Wages and salaries and overheads |
29.2 |
1.1 |
4.7 |
|
Wages and salaries |
24.3 |
1.2 |
5.5 |
|
Overheads |
4.9 |
0.2 |
–0.1 |
Table 3. Influence on the overall monthly price change (December 2014, against November) by main construction input component group
|
Construction input component groups |
Influence |
Construction input component groups |
Influence |
|
Wages and salaries |
+0.342 |
Operation of machines and mechanisms |
−0.001 |
|
Materials and products |
+0.144 |
|
|
|
Overheads |
+0.008 |
|
|
The influence on the overall change in construction input prices is determined not only by change in the construction input component price but also by the relative share (weight) of that component in the total value of construction.
More information on the issue is available in the Database of
Indicators.
«The Baltic Course» Is Sold and Stays in Business!
