Construction costs in Latvia in the third quarter increased by 2.1% compared to the same period last year, according to data from the Central Statistical Bureau.
During this period, workers' wages increased by 5.1%, expenses for the maintenance and operation of machinery and equipment rose by 2.2%, and prices for construction materials grew by 0.2%.
In the third quarter of this year compared to the second quarter, the level of construction costs increased by 0.7%. Workers' wages rose by 1.4%, expenses for the maintenance and operation of machinery and equipment increased by 0.5%, and prices for construction materials went up by 0.3%.
In September of this year compared to September 2024, the level of construction costs also increased by 2.1%. Workers' wages grew by 5.3%, expenses for the maintenance and operation of machinery and equipment rose by 2.3%, and prices for construction materials increased by 0.2%.
The greatest impact on the rise in construction costs over the year was due to the increase in wages for auxiliary workers in road construction, finishing workers (roofers, plasterers, plumbers), installers, and electricians.
Compared to August, the level of construction costs in September increased by 0.1%. Workers' wages rose by 0.6%, expenses for the maintenance and operation of machinery and equipment increased by 0.1%, while prices for construction materials decreased by 0.2%.
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