Statistics: Second quarter construction price index up 18.8 percent on year

Construction at Järva County State High School in summer 2021. Photo is illustrative.
Construction at Järva County State High School in summer 2021. Photo is illustrative. Source: Olev Kenk/ERR

In the second quarter of 2022, the construction price index (CPI) in Estonia increased by 4.9 percent compared with the previous quarter and 18.8 percent on year, Statistics Estonia reported Thursday.

On year, the CPI in the second quarter of 2022 was influenced primarily by rising materials costs, which accounted for 70 percent of the total index increase, Statistics Estonia analyst Ülo Paulus said according to a press release.

"Compared with the first quarter of 2022, the labor force was 2.3 percent more expensive, the cost of using construction machinery rose by 2.9 percent and materials costs by 6.3 percent, Paulus added.

The CPI expresses the change in construction expenditures taking into consideration the price changes of three basic inputs: labor force, building materials and construction machinery.

The calculation of the CPI covers four groups of buildings: detached houses, apartment buildings, industrial buildings and office buildings.

The repair and reconstruction work price index for the second quarter, meanwhile, rose by 3.8 percent compared with the previous quarter and by 16 percent on year.

The repair and reconstruction work price index is calculated based on office buildings.

--

Follow ERR News on Facebook and Twitter and never miss an update!

Editor: Aili Vahtla

Hea lugeja, näeme et kasutate vanemat brauseri versiooni või vähelevinud brauserit.

Parema ja terviklikuma kasutajakogemuse tagamiseks soovitame alla laadida uusim versioon mõnest meie toetatud brauserist: