Construction costs up by more than 20% in Latvia

Data published by the Central Statistical Bureau June 29 show that in May 2022, compared to May 2021, the level of construction costs in Latvia increased by 22.3 %.

Prices of building materials rose by 31.1 %, maintenance and operational costs of machinery and equipment by 17.9 %, but labour remuneration of workers increased by 9.2 %.

In May 2022, compared to April, the level of construction costs rose by 2.1 %, affected by an increase in prices of asphalt concrete and sand, as well as of dolomite breakstone.

 

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