Construction price index slightly increased at the beginning of the year

Compared to the same quarter of the previous year, the construction price index was in fall for the seventh quarter starting from the 1st quarter of 2009. The index increased for the first time in the 4th quarter of 2010, when the growth was 0.6% compared to the same quarter of the previous year. In the 1st quarter this year the small growth continued.

Compared to the 1st quarter of 2010, the construction price index was mainly influenced by the 4.9% increase in labour costs. The prices of building machines increased 0.7% and building materials 0.3%.

In the 1st quarter compared to the previous quarter, the construction price index decreased 0.2%, mainly influenced by the reduction in prices of building materials at the beginning of the year.

Construction price index, 1st quarter 2008 – 1st quarter 2011

In the 1st quarter of 2011, the repair and reconstruction work price index increased by 1.7% compared to the 1st quarter of 2010 and by 0.1% compared to the 4th quarter of 2010.

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).