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Tuesday, 19.03.2024, 14:09
Construction price index continued to rise moderately in Estonia in Q1
In the 1st quarter of 2018, compared to the same quarter of the previous
year, the construction price index was primarily affected by an increase in the
cost of labour, which accounted for 82% of the total increase of the index.
Compared to the
previous quarter, costs of building machines increased by 0.6% and labour costs
increased by 0.4%. The prices of building materials remained at the level of
the previous quarter.
In the 1st quarter
of 2018, the change of the repair and reconstruction work price index was 0.7%
compared to the 4th quarter of 2017, and 1.8% compared to the 1st quarter of
2017.
The calculation of the construction price index covers four groups of
buildings: detached houses, blocks of flats, industrial buildings and office
buildings. The repair and reconstruction work price index covers office
buildings. The construction price index expresses the change in the
expenditures on construction taking into consideration the price changes of
three basic inputs: labour force, building materials and building machines.
Change in the construction price index, 1st quarter 2018 |
||
|
4th quarter 2017 – 1st quarter 2018, % |
1st quarter 2017 – 1st quarter 2018, % |
TOTAL |
0.2 |
1.8 |
labour force |
0.4 |
4.5 |
building machines |
0.6 |
2.0 |
building materials |
0.0 |
0.4 |
Index of detached houses |
0.5 |
2.1 |
Index of
blocks of flats |
0.9 |
2.7 |
Index of industrial buildings |
-0.6 |
0.9 |
Index of office buildings |
0.3 |
1.9 |
Change in the repair and reconstruction work price index, 1st quarter
2018 |
||
|
4th quarter 2017 – 1st quarter 2018, % |
1st quarter 2017 – 1st quarter 2018, % |
TOTAL |
0.7 |
1.8 |
labour force |
0.9 |
3.8 |
building machines |
1.6 |
1.5 |
building materials |
0.5 |
0.4 |
For the statistical activity “Construction price index”, the main
representative of public interest is the Ministry of Economic Affairs and
Communications, commissioned by whom Statistics Estonia collects and analyses
the data necessary for conducting this statistical activity.