The Construction Costs Index in the A.C. of the Basque Country grew 0.1% in March 2003, by which the inter-annual rate for the month rose to 3.1%, according to EUSTAT data. Growth in the cost of raw materials (0.2%) marked the evolution of the General Index in March, as the other component, labour costs, did not vary over the same period.

Rates of inter-annual variation, 1995-2003

(*) The increase is inter-annual corresponding to March

Source: EUSTAT

In the inter-annual period (March 2003 compared with March 2002) labour costs increased 4.0%, while raw material costs increased 2.4%.

Growth in total costs for March 2003 is divided differently between its two main subsectors, Building costs rose 0.2%, while Civil Works costs remained stable during the reference month (0.0%); however, in the inter-annual evolution of the subsectors Civil Works costs grew more (3.7%) than Building costs (2.9%).

Among raw material prices that rose most in March 2003 were: Asphalt products (5.4%), Plastic piping (3.8%) and Lime, gypsum and plaster (1.7%). On the other hand, average monthly prices fell for raw materials of Metal Piping (-1.2%), Paint and varnish (-0.9%), Oil by products (-0.9%) and Glass (-0.7%), amongst others.

Source: EUSTAT