The construction price index increased in 2011

The change of the construction price index was 2.0% in the 4th quarter of 2011 compared to the 3rd quarter and 4.5% compared to the 4th quarter of 2010. Compared to the 4th quarter of 2010, the construction price index was mainly influenced by more expensive labour force, which gave almost two thirds of the total increase. Compared to the 3rd quarter of 2011, the impact of the labour force was even bigger and gave over 70% of the quarterly change.

The repair and reconstruction work price index increased 3.8% in 2011 compared to the average of 2010, of which labour force 7.5%, building machines 4.3% and building materials 1.9%.

The percentage change of the repair and reconstruction work price index in the 4th quarter of 2011 was 2.7% compared to the 3rd quarter and 5.8% 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 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.