In May, the
average level of construction costs was mostly affected by an
increase in labour remuneration to auxiliary workers of road building and
construction of artificial structures. Reduction in asphalt concrete and
dolomite breakstone prices had decreasing impact.
Compared to May 2019, construction costs rose by 1.4%. Labour
remuneration of workers rose by 7.4%,
maintenance and operational costs of machinery and equipment – by 0.5%, but
prices of building materials – fell by 0.8%.In
2020, the data on prices of construction resources were 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. Additionally, registered consumer prices of building materials are used
in calculations.
The sample includes construction enterprises with
the highest value of own account construction works in 2019. The share of
enterprises with the value of own account construction work exceeding
EUR 1 million per year accounted for 90%, in 36% of which the value
of own account construction work exceeded EUR 5 million per year. The
criterion for the sample of trade enterprises is their turnover and
specialisation.
Information on changes of construction costs in
June 2020 will be published on 27 July.
Report
on prices of construction resources for May were submitted by 97.6%
enterprises; the volume and quality of the data submitted does not differ
significantly from previous periods. Overall index of construction costs in May
corresponds to statistical basic principles and general quality criteria.
More information on construction cost indices in Latvia is
available in the CSB database section "Producer prices
– Metadata".