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International Internet Magazine. Baltic States news & analytics Monday, 13.07.2020, 02:30

Construction costs decreased by 0.4% in Latvia

Anita Merca Producer Price Indices Section, 28.09.2016.Print version
Data of the Central Statistical Bureau (CSB) show that, compared to July, in August 2016 the level of construction costs in Latvia dropped by 0.4 %. Prices of building materials decreased by 0.8%, maintenance and operational costs of machinery and equipment reduced by 0.1%, whereas labour remuneration of workers did not witness any significant changes.

Compared to August 2015, construction costs decreased by 0.4%. Prices of building materials dropped by 3.0%, while labour remuneration of workers increased by 4.2% and maintenance and operational costs of machinery and equipment grew by 1.3%.

In August, the average level of construction prices was mostly affected by a drop in the prices of road construction materials (mainly sand and crushed dolomite).


Construction cost indices

In 2016, data on prices of construction resources are provided by approximately 180 construction enterprises and more than 30 trade enterprises. When calculating the Construction Cost Index, prices of building materials submitted by enterprises for the calculation of producer price indices in industry and import price index are also used.

The sample includes construction enterprises with the highest value of own account construction works in 2015. The share of enterprises with the value of own account construction work exceeding EUR 1 mln per year accounted for 74%, in 33% of which the value of own account construction work exceeded EUR 5 mln per year. The criterion for the sample of trade enterprises is their turnover and specialisation.


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