Construction price index fell for the first time during the last 14 years

The fall of the construction price index was mainly influenced by the decrease in the labour costs. In the 1st quarter the labour costs had decreased to the level of the end of 2006. The price indices of building machines and building materials are also in the falling trend. Of building materials, the index was mainly influenced by the fall in the prices of concrete, products of concrete, and of doors and windows.

In the 1st quarter of 2009 compared to the 4th quarter of 2008, the change of the construction price index was -4.1%, mainly influenced by the decrease in the labour costs.

In the 1st quarter of 2009 the percentage change in the repair and reconstruction work price index was -3.9% compared to the 4th quarter of 2008 and -4.5% compared to the 1st quarter of 2008.

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 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).

Change in the construction price index, 1st quarter 2009

Change in the repair and reconstruction work price index, 1st quarter2009