The construction price index increased in the 3rd quarter

Compared to the 2nd quarter of 2012, the index was primarily influenced by the 4.4% increase in labour costs (which replaced the 1.1% increase in the previous quarter). Costs of building materials remained practically on the same level, expenditures on building machines increased by 1.4%.

Compared to the 3rd quarter of 2011, the costs of building materials increased by 3.6%, labour costs by 8.0% and costs of building machines by 6.7%. The price increase of materials accounted for nearly a half and the rise in labour costs for 44% of the total increase of the index.

In the 3rd quarter of 2012, the percentage change of the repair and reconstruction work price index was 1.3% compared to the 2nd quarter and 5.7% compared to the 3rd quarter of 2011.

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. 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.