Press release 23/02/2024
CONSTRUCTION COSTS INDEX. JANUARY 2024
Construction Costs in the Basque Country rose by 2.4% in January 2024
In year-on-year terms, January 2024 compared to January 2023, prices increased by 3.0%
The Construction Costs Index in the Basque Country rose by 2.4% in January 2024 in relation to the previous month, according to Eustat data. Costs increased by 3.0% compared to the same month of 2023.
Costs in the Building sector were up 2.5% and those in the Civil Works sector rose by 1.9%. In relation to January 2023, prices increased by 3.2% in the case of Building and 2.3% in that of Civil Works.
Year-on-year variation rate of the Index of construction costs in the Basque Country by sector
Percentage
Jan, 2023 Mar, 2023 May, 2023 Jul, 2023 Sep, 2023 Nov, 2023 Jan, 2024 |
Jan, 1996 Jan, 2001 Jan, 2006 Jan, 2011 Jan, 2016 Jan, 2021 |
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Compared to the previous month, December 2023, costs of raw materials rose by 0.8%, and labour costs were up 5.4%. In year-on-year terms, the cost of raw materials increased by 1.6% and labour costs rose by 5.4%.
There was a month-on-month increase in the cost of raw materials of 0.9% in the Building sector and of 0.3% in the Civil Works sector. In their year-on-year evolution, costs of raw materials in Building increased by 1.8% and those of Civil Works were up 0.8%.
Index of construction costs of the Basque Country. Rates of variation (p). January 2024
| | Index | Increase (%) |
| | | m/m-1 | m/m-12 |
| Total | 129,5 | 2,4 | 3,0 |
| Edification | 129,0 | 2,5 | 3,2 |
| Civil work | 131,6 | 1,9 | 2,3 |
| | | | |
| Raw materials | 129,8 | 0,8 | 1,6 |
| Edification | 129,2 | 0,9 | 1,8 |
| Civil work | 132,6 | 0,3 | 0,8 |
| | | | |
| Labour | 125,5 | 5,4 | 5,4 |
Base 2015=100
m / m-1 Variation rate of the last observed month (m) compared to the previous month (m-1)
m / m-12 Year-on-year variation rate of the last observed month (m) compared to the same month of the previous year (m-12)
(p)Provisional data
Date Februay 23, 2024
Source: Eustat Construction costs index
The prices of the raw materials used by the Construction sector that recorded the greatest increases in January 2024 on January 2023 were those in the following subsectors: Non-metallic Minerals, which rose by 5.9%; Manufacture of Furniture, up 3.8%; and Rubber and Plastics, with a 2.9% increase. In contrast, the main subsectors producing products that are raw materials of the sector and whose prices have decreased the most were: Electricity & Gas , with a decrease of 28.9%; Oil Refining, down 13.9%; and Chemical Industry, which fell by 5.4%.
Prices of raw materials consumed in the Basque Country by sector A64. Year-on-year rate of change (p) . January 2024
| | m / m-12 |
| Non metal minerals | 5,9 |
| Timber and cork industry | -0,2 |
| Petroleum refining | -13,9 |
| Chemical industry | -5,4 |
| Rubber and plastic | 2,9 |
| Non-metallic mineral industries | -0,1 |
| Metallurgy | -0,6 |
| Metal articles | 1,1 |
| Electronic material | -0,9 |
| Electrical material | 2,7 |
| Manufacture of machinery | 2,4 |
| Manufacturing of furniture | 3,8 |
| Electrical energy and gas | -28,9 |
Base 2015=100
(p)Provisional data
m / m-12 Year-on-year variation rate of the last observed month (m) compared to the same month of the previous year (m-12)
Date Februay 23, 2024
Source: Eustat Construction costs index
For further information:
Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Press Service: servicioprensa@eustat.eus Tel.: 945 01 75 62