Construction costs rose by 4.8% in Latvia in July

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU

The construction costs in July this year, compared with July 2017, increased by 4.8%. Workers' wages rose by 8.8%, building materials prices – by 4.2%, and the maintenance and operating costs of machines and machines – by 3.2%, according to the Central Bureau of Statistics (CSP) .

In July 2018, compared with June, construction costs in Latvia increased by 0.6%. The wages and salaries of employees increased by 1.4%, the maintenance and operating costs of machines and mechanisms – by 0.6% and the prices of building materials by 0.2%.

In July, the average level of construction costs was most influenced by the increase in wages for fitters, but also for the finishing of factory workers (roofers, plasterers, sanitary technicians and others).

In 2018, around 190 construction companies and more than 40 trading companies will provide data on raw materials prices. In the calculation of the construction cost index, the prices of building materials used by the companies for the calculation of producer price indices in the industry and the import price index are used.

The sample of the price survey includes construction companies, which in 2017 were the largest volume of construction work for own troops. 80% of the work of the surveyed companies amounted to more than 1 million. Euro per year, of which 33% of the company's work was more than 5 million. euro per year. The criteria for selecting a trading company are their size and specialization.

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