According to Statistics Estonia, in 2007 the percentage change of the construction price index was 12.7% compared to the average of 2006. The index was mainly influenced by the increase in the labour costs.
In the 4th quarter of 2007 compared to the 3rd quarter, the percentage change of the construction price index was 1.1% and compared to the 4th quarter of 2006 8.6%. In the 4th quarter of 2007 compared to the 3rd quarter, the construction price index was also mostly influenced by the increase in the labour costs.
The percentage change in the repair and reconstruction work price index in 2007 compared to the average of 2006 was 12.8%. In the 4th quarter of 2007, the percentage change in the index was 1.2% compared to the 3rd quarter of 2007 and 8.6% compared to the 4th quarter of 2006.
The calculation of the construction price index covers four groups of buildings — detached houses, blocks of flats, industrial buildings and office buildings, as well as office buildings covered by the repair and reconstruction work price index. The index expresses the change in the expenditures on construction taking into consideration the price changes of basic inputs (labour force, building materials and building machines).
The base prices for calculations are the December prices of the year 2006. To ensure the comparison with previous periods the construction price index is continued to be published on the base of 1997 = 100. December 2006 is the linking month.
Change in the construction price index, 4th quarter 2007 and 2007
| | 3rd quarter 2007 –
4th quarter 2007, % | 4th quarter 2006 –
4th quarter 2007, % | 2006–
2007, % |
| TOTAL | 1.1 | 8.6 | 12.7 |
| labour force | 1.9 | 14.4 | 22.1 |
| building machines | 1.0 | 7.4 | 8.6 |
| building materials | 0.7 | 5.9 | 8.3 |
| Index of detached houses | 1.1 | 8.7 | 12.9 |
| Index of blocks of flats | 1.1 | 8.6 | 12.6 |
| Index of industrial buildings | 1.1 | 8.8 | 13.0 |
| Index of office buildings | 1.0 | 8.4 | 12.6 |
Repair and reconstruction work price index, 4th quarter 2007 and 2007
| TOTAL | 1.2 | 8.6 | 12.8 |
| labour force | 2.1 | 13.9 | 20.8 |
| building machines | 1.0 | 6.5 | 7.1 |
| building materials | 0.8 | 5.7 | 8.8 |
| For further information: Hede Hannula
Leading Statistician
Price Statistics Service
Statistics Estonia
Tel +372 625 9242 | More detailed data have been published in the Statistical Database. |
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