Construction price index increased in the 2nd quarter

In the 2nd quarter of 2011 compared to the previous quarter as well as to the 2nd quarter of the previous year, the construction price index was mainly influenced by more expensive building materials and by the increase in labour costs. Compared to the same quarter of the previous year, the construction price index increased for the third quarter in succession and at a slightly faster rate. The annual growth was 1.5% in the 1st quarter and 3.2% in the 2nd quarter.

The percentage change of the repair and reconstruction work price index was 1.6% compared to the 1st quarter and 3.5% compared to the 2nd quarter of the previous year.

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.