Analytics, Construction, Lithuania, Real Estate

The increase in the average hourly pay in December, against November, was conditioned by larger lump sum payments, bonuses and premiums.

Over the month, prices for building materials and products decreased by 0.1%. The largest decrease in prices was observed for concrete and mortar – by 0.4, insulation materials – by 0.3%, metal, pipes and finishing materials – by 0.2% each, while an increase in prices was observed for wood products – by 0.4%, general building and plumbing materials – by 0.1% each.

As for buildings and structures, the largest price growth over the month was observed for residential construction – by 1.1%. Renovation of buildings went up in price by 1.2%.

Fig.1. Changes in construction input prices over the month, compared to the previous month

Over the year (December 2015, against December 2014), construction input prices increased by 1.3%. It was conditioned by a 5.5% increase in wages and salaries and a 0.3% increase in hourly labour costs of the operation of construction machines and mechanisms.

Over the year, prices for building materials and products decreased by 0.6%. The largest decrease in prices was observed for insulation materials – by 4, pipes – by 1.4, finishing materials – by 1.2, metal – by 0.7%, while an increase in prices was observed for plumbing materials – by 0.7, electrical engineering materials – by 0.6, windows and doors – by 0.2%.

As for buildings and structures, the largest price growth over the year was observed for residential construction – by 1.9%. Renovation of buildings went up in price by 2.7%.

Fig.2. Changes in construction input prices over the year, compared to the respective month of the previous year

Table 1. Changes in construction input prices by type of structure, December 2015, %

x – the indicator is not calculated in such expression
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¹ Classification of Types of Construction – CC

Table 2. Changes in prices for the main construction input component groups, December 2015, %

Table 3. Influence on the overall monthly price change (December 2015, against November) by main construction input component group, Percentage points

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.

For more information, see the Database of Indicators.