Construction costs up sharply in April

Take note – story published 1 year ago

Data published by the Central Statistical Bureau May 27 show that in April 2022, compared to April 2021, the level of construction costs in Latvia increased by 21.6 %. 

Prices of building materials rose by 30.3 %, maintenance and operational costs of machinery and equipment – by 17.0 %, but labour remuneration of workers – increased by 8.7 %.

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In April 2022, compared to March, the level of construction costs rose by 3.1 %. Prices of building materials increased by 3.9 %, maintenance and operational costs of machinery and equipment – by 2.6 %, but labour remuneration of workers – rose by 1.9 %.

In April, the average level of construction costs was mostly affected by an increase in prices of metal and metal products, as well as of dolomite breakstone and sand, the CSB said.

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