Between the first and second quarters of 2023, however, a small fall of 0.5 percent in the construction price index.

Lead analyst at Statistics Estonia Ülo Paulus said: "Compared with the first quarter of 2023, labor force was 0.6 percent more expensive, the cost of using building machines rose by 1.1 percent, while the price of building materials fell by 1.3 percent."

Pieces of wood and metal and also items made of these materials mostly continued on a downward trajectory, Paulus added.

As for the year-on-year difference, the construction price index was primarily influenced by the rising cost of building materials, which accounted for 55 percent of the total index rise, the agency says.

The construction price index expresses the change in construction expenditures taking into consideration the price changes of three basic inputs: Labour force, building machines, and building materials.

Its calculation covers four categories of building types: Detached houses, blocks of flats, industrial buildings, and office buildings.

The repair and reconstruction work price index also covers office buildings.

This rose by 9.1 percent on year to the second quarter of 2023, but fell by 0.3 percent between the first and second quarters of the year.

Statistics Estonia collected the above data on behalf of the Ministry of Economic Affairs.

More detailed information is here.

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