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Monday 28.05.2018 | Name days: Vilhelms, Vilis
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Estonian construction price rise influenced most by higher labour costs

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Estonian construction price index grew by 1.5% in 2017 aligned with the average of 2016, Estonian statisticians calculated.

Estonian public broadcaster ERR reported on Monday, January 23, citing data from Statistics Estonia that in the 4th quarter of 2017, compared to the 3rd quarter of 2017, the index was mainly influenced by an increase in labour costs, which accounted for 96 percent of the change on previous quarter.

Changes in the construction price index reflect fluctuation in construction spending based on three basic inputs: labour force, building materials and building machines.

In Estonia a separate repair and reconstruction work price index also increased 1.5% in 2017, when set against the average of 2016, and showed a 1.7%t increase in both labour costs and application of machinery, as well as a 1.3% increase in prices of building materials.

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