The construction price index increased in 2013

Labour costs increased by 13.4%, costs of building machines by 4.7% and costs of building materials by 1.2% compared to the previous year.

In the 4th quarter of 2013 compared to the 3rd quarter, the change of the construction price index was 0.3% and compared to the 4th quarter of 2012 the change was 4.7%. Compared to the 3rd quarter, the index was mainly influenced by more expensive labour costs, which accounted for over three quarters of the quarterly change. Compared to the 4th quarter of 2012, the construction price index was also mainly influenced by increased labour costs, which accounted for 80% of the total increase.

The repair and reconstruction work price index rose 6.1% in 2013 compared to the average of 2012 – labour costs increased by 13.3% and costs of machines by 0.2%, while costs of materials decreased by 0.2%.

The change of the repair and reconstruction work price index in the 4th quarter of 2013 was 0.3% compared to the 3rd quarter, and 5.7% compared to the 4th quarter of 2012.

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.