Over 20% leap in construction costs in Latvia in July

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 %.

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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