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Monday 22.05.2017 | Name days: Emīlija
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Construction costs in Latvia increased by 0.3% in January

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCompared to December 2016, in January 2017 the level of construction costs in Latvia increased by 0.3 %. Prices of building materials rose by 0.9 %, whereas labour remuneration of workers decreased by 0.4 % and maintenance and operational costs of machinery and equipment dropped by 0.2 %.

Compared to January 2016, construction costs increased by 0.6 %. Labour remuneration of workers grew by 2.6 %, maintenance and operational costs of machinery and equipment rose by 0.3 %, whereas prices of building materials did not change significantly, according to data from the Central Statistical Bureau of Latvia.

In January, the average level of construction costs was mostly affected by an increase in the prices of sand.

In 2017, data on prices of construction resources are provided by approximately 190 construction enterprises and more than 40 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 2016. The share of enterprises with the value of own account construction work exceeding EUR 1 million per year accounted for 72 %, in 26 % 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.

Data on changes of construction costs in February 2017 will be published on 27 March.

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