The increase of construction price index has slowed down in the 3rd quarter

In the 3rd quarter compared to the same quarter of the previous year, the construction price index was primarily influenced by the increase in the labour costs and by more expensive building materials. The index increased for the fourth quarter in succession in the year-on-year comparison, although the increase has slightly slowed down. In the 1st quarter the annual growth was 1.5%, in the 2nd quarter 3.2% and in the 3rd quarter 3.0%.

The increase of construction price index slowed down also in the quarter-on-quarter comparison. In the 2nd quarter this year the growth was 1.5%, in the 3rd quarter 1.0%.

The percentage change of the repair and reconstruction work price index in the 3rd quarter was 1.0% compared to the 2nd quarter and 3.4% compared to the 3rd 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 construction price 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.