Construction costs up sharply in April

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 %.

 

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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