The construction price index increased in 2012

Labour costs increased by 6.3%, costs on building machines by 7.2% and costs on building materials by 3.7% compared to the previous year.

In the 4th quarter of 2012 compared to the 3rd quarter, the change of the construction price index was 0.8% and compared to the 4th quarter of 2011 – 3.7%. Compared to the 3rd quarter, the index was mainly influenced by more expensive labour costs, which gave over three quarters of the quarterly change. Compared to the 4th quarter of 2011, the construction price index was mainly influenced by more expensive materials, which gave more than a half of the total increase of the index.

Repair and reconstruction work price index rose 5.2% in 2012 compared to the average of 2011, while labour costs increased by 5.9%, costs on machines by 9.3% and costs on materials by 4.5%.

The change of the repair and reconstruction work price index was 0.8% in the 4th quarter of 2012 compared to the 3rd quarter, and 4.0% compared to the 4th 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, 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.