The construction price index fell in the 1st quarter
According to Statistics Estonia, the construction price index fell 0.7% at constant prices in the first quarter of 2016 compared to both the 4th and the 1st quarter of 2015.
In the 1st quarter of 2016 compared to the 4th quarter of 2015, the index was mainly influenced by the 1.2% decrease in the cost of building materials. Labour force costs increased 0.1% and the costs of building machines rose 0.2%.
In the 1st quarter of 2016 compared to the same quarter of the previous year, the construction price index was most influenced by the 2.0% decrease in the price of building materials. Labour force costs increased 1.9% and the costs of building machines decreased 1.6%.
The repair and reconstruction work price index fell by 0.5% in the 1st quarter of 2016 compared to the 4th quarter of 2015 and by 0.9% compared to the 1st quarter of 2015.
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 three basic inputs: labour force, building materials and building machines.
| 4th quarter 2015 – 1st quarter 2016, % | 1st quarter 2015 – 1st quarter 2016, % | |
|---|---|---|
| TOTAL | -0.7 | -0.7 |
| labour force | 0.1 | 1.9 |
| building machines | 0.2 | -1.6 |
| building materials | -1.2 | -2.0 |
| Index of detached houses | -0.3 | -0.1 |
| Index of blocks of flats | -0.8 | -1.0 |
| Index of industrial buildings | -0.3 | -0.7 |
| Index of office buildings | -0.9 | -0.7 |
| 4th quarter 2015 – 1st quarter 2016, % | 1st quarter 2015 – 1st quarter 2016, % | |
|---|---|---|
| TOTAL | -0.5 | -0.9 |
| labour force | 0.0 | 1.1 |
| building machines | -0.8 | -3.9 |
| building materials | -0.8 | -2.0 |