Construction price index continues upward trend

news release no 124

According to Statistics Estonia, the change of the construction price index in the 3rd quarter of 2019 was 0.4% compared to the previous quarter and 2.1% compared to the 3rd quarter of 2018.

Construction price index

In the 3rd quarter, compared to the same quarter of the previous year, the construction price index was primarily affected by increased labour costs, which accounted for 57% of the total increase of the index.

Compared to the previous quarter, labour costs increased by 0.7% and the costs of building materials by 0.2%. The costs of building machines decreased by 0.1%.

In the 3rd quarter of 2019, the change of the repair and reconstruction work price index was 0.4% compared to the 2nd quarter of 2019 and 2.4% compared to the 3rd quarter of 2018.

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.

Change in the construction price index, 3rd quarter 2019
  2nd quarter 2019 – 3rd quarter 2019, % 3rd quarter 2018 – 3rd quarter 2019, %
TOTAL 0.4 2.1
labour force 0.7 4.7
building machines -0.1 1.5
building materials 0.2 0.7
Index of detached houses 0.3 2.4
Index of blocks of flats 0.5 2.0
Index of industrial buildings 0.5 2.3
Index of office buildings 0.3 2.0
Change in the repair and reconstruction work price index, 3rd quarter 2019
  2nd quarter 2019 – 3rd quarter 2019, % 3rd quarter 2018 – 3rd quarter 2019, %
TOTAL 0.4 2.4
labour force 0.7 4.7
building machines 0.1 5.0
building materials 0.3 0.6

For further information:

Ülo Paulus
Analyst
Economic and Environmental Statistics Department      
Statistics Estonia
Tel +372 625 9242

More detailed data have been published in the statistical database.