Labour remuneration of workers rose by 0.6%, prices of building materials – by 0.4%, but maintenance and operational costs of machinery and equipment – increased by 0.3%.
In December, the average level of construction costs was mostly affected by an increase in labour remuneration to assemblers, as well as to auxiliary workers of road building and construction of artificial structures.
Compared to December 2019, in December 2020, the level of construction costs in Latvia rose by 0.3 %. Labour remuneration of workers rose by 4.2 %, maintenance and operational costs of machinery and equipment – by 0.9 %, but prices of building materials fell by 1.7 %.
Compared to the third quarter, in the fourth quarter of 2020 the overall level of construction costs rose by 0.2 %. Labour remuneration of workers increased by 0.7 %, maintenance and operational costs of machinery and equipment rose by 0.3 %, but prices of building materials did not change.
In the fourth quarter of 2020, compared to the fourth quarter of 2019, the overall level of construction costs rose by 0.6 %. Labour remuneration of workers increased by 5.5%, maintenance and operational costs of machinery and equipment rose by 0.7 %, but prices of building materials – reduced by 1.7%.
The average 12-month level of construction costs of 2020 increased by 1.3 % in comparison to the average 12-month level of 2019. Labour remuneration of workers grew by 7.0 %, maintenance and operational costs of machinery and equipment rose by 0.7 %, but prices of building materials – reduced by 0.7 %.
Information on changes of construction costs in January 2021 will be published on 25 February. More information on construction cost indices in Latvia is available in section of official statistics portal "Producer prices".
