Analytics, Construction, Lithuania, Real Estate
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Wednesday, 08.05.2024, 22:23
In August, construction input prices in Lithuania increased by 2.3% y-o-y
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The change was mainly influenced by a 4.1% increase in wages and salaries, 0.1% – hourly labour costs on operation of construction machines and mechanisms. Prices of building materials and products remained almost unchanged.
 |
| Construction input price changes per month, compared to the previous month |
As for building materials and products, the largest price growth over the month was observed for wood products – 0.5, finishing materials – 0.4, general building materials, electrical engineering materials, sanitary engineering materials, concrete and mortar – 0.1% each, while prices for insulation materials dropped by 0.3, pipes – 0.2, metal – 0.1%.
As for buildings and structures, the largest price growth over the month was observed for the construction of residential buildings – 1.7%. A 1.9% price growth was observed for renovation of buildings.
Over the year (August 2014, against August 2013), construction input prices increased by 2.3%. It was conditioned by a 6.4% increase in wages and salaries, 1.1% – hourly labour costs on operation of construction machines and mechanisms, 0.7% – prices of building materials and products.
As for building materials and products, the largest price growth over the year was observed for wood products – 3.8, concrete and ferroconcrete – 3.3, general building materials – 1.9, concrete and mortar – 1.8, sanitary engineering materials – 1.3, windows and doors – 0.4%, while prices for insulation materials dropped by 1.3, finishing materials – 1.2, pipes – 1.1%.
As for buildings and structures, the largest price growth was observed for the construction of residential buildings – 3.2%. A 3.4% price growth was observed for the renovation of buildings.
Table 1. Changes in construction input prices by type of structure, August 2014, %
|
Types of structures according to CC1 |
Relative share (weight) |
Price growth, August 2014, against |
||
|
July 2014 |
2013 |
|||
|
December |
August |
|||
|
All structures |
100.0 |
1.1 |
1.4 |
2.3 |
|
Residential buildings |
9.7 |
1.7 |
2.3 |
3.2 |
|
Non-residential buildings |
33.4 |
1.1 |
1.7 |
2.3 |
|
Administrative |
10.9 |
1.3 |
1.7 |
2.5 |
|
Industrial |
15.6 |
1.1 |
1.8 |
2.4 |
|
Trade |
6.9 |
1.0 |
1.4 |
1.8 |
|
Civil engineering units |
56.9 |
1.0 |
1.1 |
2.1 |
|
Utility infrastructure (except for wastewater pipelines) |
29.1 |
1.2 |
0.8 |
1.9 |
|
Wastewater pipelines |
9.9 |
1.3 |
1.2 |
2.0 |
|
Roads and streets |
17.9 |
0.6 |
1.3 |
2.4 |
|
Renovation of buildings |
x |
1.9 |
2.5 |
3.4 |
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, August 2014, %
|
Construction input component groups |
Relative share (weight) |
Price growth, drop (–), August 2014, |
||
|
July 2014 |
2013 |
|||
|
December |
August |
|||
|
Total construction costs |
100.0 |
1.1 |
1.4 |
2.3 |
|
Materials and products |
62.7 |
0.0 |
0.1 |
0.7 |
|
Operation of machines and mechanisms |
8.1 |
0.1 |
0.7 |
1.1 |
|
Wages and salaries and overheads |
29.2 |
3.5 |
4.0 |
5.6 |
|
Wages and salaries |
24.3 |
4.1 |
4.7 |
6.4 |
|
Overheads |
4.9 |
0.1 |
–0.1 |
0.4 |
Table 3. Influence on the overall monthly price change (August 2014, against July) by main construction input component group
|
Construction input component groups |
Influence, percentage points |
|
Wages and salaries |
+1.133 |
|
Operation of machines and mechanisms |
+0.005 |
|
Overheads |
+0.004 |
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.
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