Construction costs ticked up 0.5% in November

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Data published by the Central Statistical Bureau (CSB) December 28 show that, compared to October, in November 2021, the level of construction costs in Latvia increased by 0.5 %. 

Prices of building materials rose by 0.7 %, maintenance and operational costs of machinery and equipment – by 0.6 %, while labour remuneration of workers – reduced by 0.1 %.

"In November, overall level of construction costs was affected by an increase in prices of asphalt concrete. Labour remuneration to auxiliary workers of road building and construction of artificial structures had a downward effect," the CSB said.

Compared to November 2020, construction costs rose by 11.9 %. Prices of building materials rose by 18.0 %, maintenance and operational costs of machinery and equipment – by 6.9 %, but labour remuneration of workers – increased by 4.3 %.

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