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Official Statistics Portal of Latvia
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In October, overall level of construction costs rose by 1.4 %

Data of the Central Statistical Bureau show that, compared to September, in October 2021, the level of construction costs in Latvia increased by 1.4 %. Prices of building materials rose by 2.6 %, maintenance and operational costs of machinery and equipment – by 0.3 %, while labour remuneration of workers – reduced by 0.1 %.

In October, the average level of construction costs was mostly affected by an increase in prices of sand, dolomite breakstone, as well as asphalt concrete. Labour remuneration to auxiliary workers of road building and construction of artificial structures had a downward effect.

Compared to October 2020, construction costs rose by 11.2 %. Prices of building materials rose by 16.6 %, maintenance and operational costs of machinery and equipment – by 6.4 %, but labour remuneration of workers – increased by 4.6 %.

Information on changes of construction costs in November 2021 will be published on 28 December.

Methodological information

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 October were submitted by 95.6 % of enterprises; the volume and quality of the data submitted does not differ significantly from previous periods. Overall index of construction costs in October corresponds to statistical basic principles and general quality criteria.

 

More information on construction cost indices in Latvia is available in section of Official statistics portal "Reference metadata".

Media requests:
Communication Section
E-mail:
media@csp.gov.lv
Phone: +371 27880666

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

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