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Construction input prices in Lithuania decreased by 0.2% in August

Nijolė Grigaravičienė, Statistics Lithuania, 29.09.2017.Print version
Statistics Lithuania informs that in August 2017, compared to July, construction input prices decreased by 0.2%. The greatest influence on the overall price change was made by a 0.9% decrease in wages and salaries. In August, against July, a decrease in average gross hourly earnings was determined by reduced lump sum premiums, bonuses and benefits.

The overall monthly change in prices of construction materials and products was close to zero because an increase in prices of certain construction materials and products was counterbalanced by a decrease in prices of other construction materials and products. As regards construction materials and products, finishing materials went up in price by 0.8, metal products – 0.6%, while pipes went down in price by 0.4, electrical engineering materials – 0.3, insulation materials, concrete and mortar – 0.2% each.



As for buildings and structures, the largest decrease in prices – 0.4% – was observed for the construction of civil engineering structures.


Table 1. Influence on the overall monthly price change (August 2017, against July) by main construction input component group


Construction input component groups

Price growth, drop (–), %

Influence, percentage points

Materials and products

0.02

+0.012

Operation of machines and mechanisms

0.1

+0.004

Wages and salaries

–0.9

–0.247


The influence on the overall change in construction input prices is determined not only by change in the construction input component price but also by the relative share (weight) of that component in the total value of construction.


Over the year (August 2017, against August 2016), construction input prices increased by 3.3%. This was determined by a 10% increase in wages and salaries, 1.4% – hourly labour costs on operation of construction machines and mechanisms, 0.9% – construction materials and products.




As for buildings and structures, the largest increase in prices was observed for the construction of residential buildings – 4.5%. Renovation of buildings went up in price by 4.7%.


Table 2. Changes in construction input prices by type of structure, August 2017, %


Types of structures according to CC1

Relative share (weight) of the construction work carried out by type of structure in the total value of new construction

Price growth, drop (–), August 2017, against

July 2017

2016

December

August

All structures

100.0

–0.2

2.9

3.3

Residential buildings

16.6

–0.2

4.0

4.5

One flat houses

12.9

–0.3

4.0

4.6

Blocks of flats

3.7

–0.2

3.8

4.4

Non-residential buildings

37.9

–0.1

3.7

4.2

Administrative

7.7

–0.2

3.4

3.9

Industrial

20.1

0.0

3.7

4.3

Trade

10.1

–0.1

3.7

4.3

Civil engineering units

45.5

–0.4

1.9

2.0

Utility infrastructure (except for wastewater pipelines)

27.3

–0.4

1.8

1.8

Wastewater pipelines

4.5

–0.2

2.3

2.8

Roads and streets

13.7

–0.2

2.1

2.2

Renovation of buildings

x

–0.2

4.3

4.7

– the indicator is not calculated in such expression


Table 3. Changes in prices for the main construction input component groups, August 2017, %


Construction input component groups

Relative share (weight) of construction input component groups in the total value of construction

Price growth, drop (–), August 2017, against

July 2017

2016

December

August

Total construction costs

100.0

–0.2

2.9

3.3

Materials and products

62.4

0.0

0.9

0.9

Operation of machines and mechanisms

6.6

0.1

1.3

1.4

Wages and salaries and overheads

31.0

–0.8

7.3

8.6

Wages and salaries

26.2

–0.9

8.6

10.0

Overheads

4.8

0.0

–0.1

1.2

_______________________
1 Classification of types of Construction – CC


A news release on changes in construction input prices in September 2017 is due on 30 October 2017.


For more information, see the Database of Indicators.






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