Over 20% leap in construction costs in Latvia in July

Take note – story published 1 year ago

Data of the Central Statistical Bureau show that in July 2022, compared to July 2021, the level of construction costs in Latvia increased by 21.3 %. 

Prices of building materials rose by 28.0 %, maintenance and operational costs of machinery and equipment – by 18.6 %, but labour remuneration of workers increased by 10.4 %.

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In July 2022, compared to June, the level of construction costs rose by 1.3 %. Prices of building materials grew by 1.6 %, labor remuneration of workers – by 0.9 %, but maintenance and operational costs of machinery and equipment rose by 0.8 %.

In July, the average level of construction costs was mostly affected by an increase in prices of asphalt concrete, as well as of dolomite breakstone.

 

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