Construction costs up slightly in June

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Compared to May, in June 2017 the level of construction costs in Latvia increased by 0.2 %. Labour remuneration of workers rose by 0.4 %, prices of building materials grew by 0.2 %, and maintenance and operational costs of machinery and equipment increased by 0.1 %.

Data of the Central Statistical Bureau (CSB) show that, compared to June 2016, construction costs increased by 2.0 %. Labor remuneration of workers grew by 3.9 %, prices of building materials increased by 1.9 %, while maintenance and operational costs of machinery and equipment rose by 0.8 %.

In June, the average level of construction costs was mostly affected by an increase in the labor remuneration of assemblers, as well as growth in the prices of dolomite chips.

In the second quarter of 2017, as compared to the first quarter, the overall level of construction costs increased by 1.3 %. Labor remuneration of workers grew by 3.6 %, maintenance and operational costs of machinery and equipment rose by 0.9 %, whereas prices of building materials increased by 0.7 %.

In the second quarter of 2017, as compared to the second quarter of 2016, the overall level of construction costs grew by 2.0 %. Labor remuneration of workers rose by 4.5 %, prices of building materials increased by 1.8 %, whereas maintenance and operational costs of machinery and equipment grew by 0.7 %.

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