Statistics Estonia reported on Thursday that the change of the construction price index in the second quarter was 0.2 percent compared to the first, and 1.5 percent compared to the same period last year.
In the second quarter the construction price index was primarily affected by an increase in the costs of building materials and labour, which accounted for more than 70 percent and over 25 percent of the total increase of the index.
Compared to the previous quarter, the costs of building materials increased by 0.2 percent, the costs of building machines by 0.2 percent, and that of labor by 0.3 percent.
In the second quarter of 2017, the change of the repair and reconstruction work price index was 0.4 percent compared to the first quarter of 2017, and 2.0 percent compared to the second quarter of 2016.
The calculation of the construction price index covers four groups of buildings: detached houses, blocks of flats, industrial buildings and office buildings. The repair and reconstruction work price index only looks at office buildings.
The construction price index on the whole expresses the change in expenditures on construction, taking into consideration the price changes of three basic inputs: labor, building materials, and machinery.
Editor: Dario Cavegn
Source: Statistics Estonia