Construction costs still on the rise in Latvia

Data published August 26 by the Central Statistical Bureau (CSB) show that, compared to June, in July 2021 the level of construction costs in Latvia grew by 1.8%.

Prices of building materials rose by 3.1%, maintenance and operational costs of machinery and equipment – by 0.7%, but labour remuneration of workers – increased by 0.1%.

In July, the average level of construction costs was mostly affected by an increase in prices of sand and dolomite breakstone as well as asphalt concrete.

Compared to July 2020, construction costs rose by 8.2 %. Prices of building materials grew by 11.8 %, labor remuneration of workers – by 4.4%, maintenance and operational costs of machinery and equipment rose by 4.3%.

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