Analytics, Construction, Lithuania, Real Estate

International Internet Magazine. Baltic States news & analytics Monday, 28.07.2014, 15:21

Construction input prices in Lithuania grew by 3.2% in May y-o-y

Jonas Markelevičius, Statistics Lithuania, 29.06.2012.Print version
Statistics Lithuania informs that construction input prices in May 2012, compared to April, increased by 0.1%. The monthly change in construction input prices was mostly influenced by an increase in wages and salaries and in prices for building materials and products. Over the year, construction input prices increased by 3.2%.

As for building materials and products, the largest increase in prices over the month was observed in prices for building materials – by 0.7%, plumbing materials – by 0.5, insulation materials and pipes – by 0.3%, decrease – in prices for metal products (by 0.5%). 


Fig. 1. Monthly changes in construction input prices, compared to the previous month

Over the year (in May 2012, compared to May 2011), construction input prices increased by 3.2%. It was determined by an increase in prices for building materials and products – by 3.8%, wages and salaries – by 2.8%. As regards building materials and products, the largest increase in prices was observed for various types of concrete and mortar – by 7.2%, concrete and reinforced concrete products – by 6.1, finishing and general building materials – by 4.8, metal products – by 3.6, insulation materials – by 3.1%.


Fig. 2. Annual changes in construction input prices, compared to the same month of
the previous year


Table 1. Changes in construction input prices by type of structure, May 2012, %

Types of structures according to the CC

Relative share of the construction works carried out by type of structure in the total value of new construction

Price growth, drop (–), May 2012, compared to

April 2012

2011

December

May

All structures

100.0

0.1

1.2

3.2

Residential buildings

9.7

0.2

0.7

2.1

Non-residential buildings

33.4

0.0

0.9

2.6

Administrative

10.9

0.1

1.0

2.5

Industrial

15.6

-0.1

0.9

2.4

Trade

6.9

-0.1

1.1

3.2

Civil engineering units

56.9

0.2

1.4

3.8

Utility infrastructure (except wastewater pipelines)

29.1

0.3

0.4

2.4

Wastewater pipelines

9.9

-0.1

2.2

4.0

Roads and streets

17.9

0.2

2.6

5.9

In addition, renovation

X

0.1

0.6

2.0

x – the indicator is not calculated in such expression. 


Table 2. Changes in prices for the main components of construction input, May 2012, %

Groups of construction input components

Relative share of construction input in the total value of construction

Price growth, drop (–), May 2012, compared to

April 2012

2011

December

May

Total construction costs

100.0

0.1

1.2

3.2

Materials and products

62.7

0.2

1.6

3.8

Operation of machines and mechanisms

8.1

0.0

1.6

3.2

Wages and salaries and overheads

29.2

0.1

0.2

2.1

Wages and salaries

24.3

0.4

0.5

2.8

Overheads

4.9

-1.4

-1.5

-1.3


Table 3. Influence of construction input prices on the overall monthly price change (May 2012, compared to April), percentage points

Groups of construction input components

Influence

Groups of construction input components

Influence

Materials and products

+0.104

Overheads

-0.063

Wages and salaries

+0.100

Operation of machines and mechanisms

-0.002

 

The influence on the overall change in construction input prices is determined not only by the rate of change of the construction input component price but also by the relative share of that component in the total value of construction.

 

CC refers to the Classification of Types of Construction.







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