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The rise in construction prices in the first quarter was curbed by the lower cost of materials
Kuupäev 22.04.2025
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Ülo Paulus, leading analyst at Statistics Estonia, said that in the first quarter of this year, compared with the same period in 2024, the construction price index was primarily influenced by the 2.9% increase in employees’ wages, which accounted for 54% of the index change. “Compared with the fourth quarter of last year, labour force was 0.6% more expensive and the cost of using building machines rose by 0.3%, while the prices of building materials were down by 0.2%,” explained Paulus. The repair and reconstruction work price index decreased by 0.5% compared with the fourth quarter of 2024
The rise in construction prices in the first quarter was held back by lower costs for materials and machinery
Kuupäev 23.04.2024
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According to Statistics Estonia, in the first quarter of 2024, the construction price index increased by 0.2% compared with the fourth quarter of 2023 and by 0.9% compared with the first quarter of last year.
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Higher cost of materials had the biggest impact on the rise in construction prices last year
Kuupäev 23.01.2024
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According to Statistics Estonia, in 2023, the construction price index increased by 6.1% compared with the average of 2022. In the fourth quarter of last year, the construction price index increased by 0.9% compared with the third quarter. The index increased by 2.2% compared with the fourth quarter of 2022.
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For work, people receive pay, or wages and salaries, which is agreed compensation for fulfilling work tasks. In addition to the sum that the employer pays to the employee, the employer pays labour taxes on that sum, which together with the wages constitute labour costs. Wages are an important source of income, and their main purpose is to cover expenses on dwelling, food, transportation and other basic needs. This is why the law regulates the minimum an employee could be paid for full-time work. The minimum wage is set to protect the well-being of employees. The statistics on wages and
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The higher cost of materials raises construction prices
Kuupäev 21.04.2022
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According to Statistics Estonia, in the first quarter of 2022, the construction price index increased by 4.6% compared to the fourth quarter of 2021 and by 19.3% compared to the first quarter of 2021.
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