Construction price index continues upward trend

In the 3rd quarter, compared to the same quarter of the previous year, the construction price index was primarily affected by increased labour costs, which accounted for 57% of the total increase of the index.

Compared to the previous quarter, labour costs increased by 0.7% and the costs of building materials by 0.2%. The costs of building machines decreased by 0.1%.

In the 3rd quarter of 2019, the change of the repair and reconstruction work price index was 0.4% compared to the 2nd quarter of 2019 and 2.4% compared to the 3rd quarter of 2018.

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.