Estonia: Construction price index increased in the 3rd quarter
20/10/2008 - 09:11
According to Statistics Estonia, in the 3rd quarter of 2008 the percentage change of the construction price index was 0.4% compared to the 2nd quarter, and 3.1% compared to the 3rd quarter of the previous year.
In the 3rd quarter compared to the previous quarter as well as to the 3rd quarter of the previous year, the construction price index was primarily influenced by the increase in the labour costs and by more expensive building machines.
In the 3rd quarter of 2008 the percentage change in the repair and reconstruction work price index was 0.3% compared to the 2nd quarter and 3.6% compared to the 3rd 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 construction price 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.
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