The change of the construction price index in the 3rd quarter of 2019 was 0.4 percent compared to the previous quarter and 2.1 percent compared to the 3rd quarter of 2018, new figures released by Statistics Estonia show.
In the 3rd quarter, defined as July, August and September, compared to the same quarter of the previous year, the construction price index was primarily affected by increased labour costs, which accounted for 57 percent of the total increase of the index.
The construction price index shows the change in spending on construction taking into consideration the price changes of the labour force, building materials and building machines.
Compared to the previous quarter, labour costs increased by 0.7 percent and the costs of building materials by 0.2 percent. The costs of building machines and equipment decreased by 0.1 percent.
In the 3rd quarter of 2019, the change of the repair and reconstruction work price index was 0.4 percent compared to the 2nd quarter of 2019 and 2.4 percent compared to the 3rd quarter of 2018.
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 covers office buildings.
Editor: Helen Wright