Construction price index took an upturn in the 3rd quarter due to the increasing costs of construction materials

In the 3rd quarter, compared to the same quarter of the previous year, the construction price index was influenced the most by the decreasing costs of construction materials, which accounted for over three-quarters of the total decrease of the index.

Compared to the previous quarter, labour costs and spending on machinery increased by 0.1%. The prices of construction materials rose by 1.1% compared to the previous quarter.

The repair and reconstruction work price index increased by 0.9% in the 3rd quarter of 2016 compared to the 2nd quarter of 2016 and fell by 0.8% compared to the 3rd quarter of 2015.

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.