Second quarter construction price index up 2% on year

Construction abounds in Tallinn in particular. Source: Siim Lõvi/ERR

According to information released by Statistics Estonia on Friday, the construction price index of the second quarter of 2018 increased 0.3% compared to the previous quarter and 2% on year.

In the second quarter, compared to the same quarter last year, the construction price index was affected primarily by an increase in the cost of labour, which accounted for three quarters of the total increase of the index.

Compared to the previous quarter, the cost of construction materials increased by 0.3%, machines by 0.7% and labour by 0.4%.

In the 2nd quarter of 2018, the repair and reconstruction work price index increased 0.4% compared to the first quarter and 1.7% on year.

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, meanwhile, covers office buildings.

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

Editor: Aili Vahtla

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