Construction price index increased in the 2nd quarter

news release no 87

According to Statistics Estonia, the percentage change of the construction price index was 1.5% in the 2nd quarter compared to the 1st quarter of 2011 and 3.2% compared to the 2nd quarter of the previous year.

In the 2nd quarter of 2011 compared to the previous quarter as well as to the 2nd quarter of the previous year, the construction price index was mainly influenced by more expensive building materials and by the increase in labour costs. Compared to the same quarter of the previous year, the construction price index increased for the third quarter in succession and at a slightly faster rate. The annual growth was 1.5% in the 1st quarter and 3.2% in the 2nd quarter.

The percentage change of the repair and reconstruction work price index was 1.6% compared to the 1st quarter and 3.5% compared to the 2nd quarter of the previous year.

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.

Change in the construction price index, 2nd quarter 2011
  1st quarter 2011 –
2nd quarter 2011, %
2nd quarter 2010 –
2nd quarter 2011, %
TOTAL 1.5 3.2
labour force 1.6 7.0
building machines 1.2 2.0
building materials 1.5 1.8
Index of detached houses 1.2 3.3
Index of blocks of flats 1.8 3.6
Index of industrial buildings 1.7 3.2
Index of office buildings 1.4 2.8

Change in the repair and reconstruction work price index, 2nd quarter 2011
  1st quarter 2011 –
2nd quarter 2011, %
2nd quarter 2010 –
2nd quarter 2011, %
TOTAL 1.6 3.5
labour force 1.5 6.9
building machines 3.0 4.8
building materials 1.5 1.7

For further information:

Krõõt Ojamaa
Leading Statistician
Price Statistics Service
Statistics Estonia
Tel +372 625 9242

More detailed data have been published in the Statistical Database.