Construction price index fell also in the 4th quarter

The construction price index fell in each quarter of 2009 compared to the corresponding quarter of the previous year and for that reason the average index of the year was also in the falling trend. Since 1995, the annual average construction price index fell for the first time compared to the average of the previous year.

The fall of the construction price index in the 4th quarter was mainly influenced by the decrease in the labour costs by 17.6%. The price indices of building machines and building materials were also in the falling trend. The fall of the annual average index was also mainly influenced by the decrease in the labour costs.

Compared to the 3rd quarter of 2009, the change of the construction price index was -0.9%, mainly influenced by the decrease in the labour costs.

In the 4th quarter of 2009 the percentage change in the repair and reconstruction work price index was -1.1% compared to the 3rd quarter of 2009 and -9.4% compared to the 4th quarter of 2008. In 2009, the change of the index was -8.1% compared to the average 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).