Construction costs up only slightly in July in Latvia

Data pubished by the Central Statistical Bureau August 27 show that in July 2024, compared to July 2023, the level of construction costs in Latvia increased by 2.3 %.

Labor remuneration of workers increased by 6.3 %, maintenance and operational costs of machinery and equipment by 3.2 %, while prices of building materials fell by 0.1 %.

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In July 2024, compared to June, the level of construction costs rose by 0.4 %. Labor remuneration of workers rose by 0.5 %, prices of building materials went up by 0.4 %, maintenance and operational costs of machinery and equipment – by 0.2 %.

"The average level of construction costs was mostly affected by an increase in labor remuneration to assemblers, as well as by rise in prices of mineral materials," said the CSB.

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