In June, overall level of construction costs rose by 1.3 %

Data of the Central Statistical Bureau (CSB) show that, compared to May 2021, in June 2021, the level of construction costs in Latvia rose by 1.3 %. Prices of building materials rose by 1.8 %, labour remuneration of workers - by 1.0 %, and maintenance and operational costs of machinery and equipment – by 0.4 %.

In June, the average level of construction costs was mostly affected by an increase in prices of metal, metal products, as well as dolomite chips.

Compared to June 2020, construction costs rose by 6.1 %. Prices of building materials rose by 8.1 %, labour remuneration of workers - by 4.0 %, and maintenance and operational costs of machinery and equipment – by 3.8 %.

In the 2nd quarter of 2021, compared to the 1st quarter, the overall level of construction costs increased by 3.4 %. Prices of building materials rose by 4.3 %, labour remuneration of workers - by 2.6 %, and maintenance and operational costs of machinery and equipment – by 2.2 %.

In the 2nd quarter of 2021, compared to the 2nd quarter of 2020, the overall level of construction costs increased by 4.7 %. Prices of building materials rose by 5.8 %, labour remuneration of workers - by 3.8 %, and maintenance and operational costs of machinery and equipment – by 3.4 %.

Information on changes of construction costs in July 2021 will be published on August 26.

Methodological explanations

In 2021, the data on prices of construction resources were provided by approximately 200 construction enterprises and more than 50 trade enterprises. When calculating the Construction Cost Index, the prices of building materials submitted by enterprises for the calculation of producer price indices in industry and import price index are also used. Additionally, registered consumer prices of building materials are used in calculations.

The sample includes construction enterprises with the highest value of own account construction works in 2020. The share of enterprises with the value of own account construction work exceeding EUR 1 million per year accounted for 90.3 %, in 34 % 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.

Report on prices of construction resources for June were submitted by 97,2 % of enterprises; the volume and quality of the data submitted does not differ significantly from previous periods. Overall index of construction costs in June corresponds to statistical basic principles and general quality criteria.

Media requests:
Communication Section
E-mail: media@csp.gov.lv
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More information on data:
Ļubova Ņemsadze
Producer Price Indices Sectio
E-mail: Lubova.Nemsadze@csp.gov.lv
Phone: +371 67366783