The Building Costs Index registered a 0.2% increase in the Autonomous Community of the Basque Country in June 2007 with respect to the previous month, as a consequence of which the interannual rate for that month reaches 5.4%, according to data facilitated by EUSTAT, the Basque Statistics Office. The Building subsector grew 0.2% whereas that of Civil Works grew 0.1% in June. The interannual rate thus reached 5.6% for Building and 4.5% for Civil Works.

Annual carryover rates, 1997-2007

(*) The stated increase is the May annual carryover rate

Source: EUSTAT

In the month of June 2007 labour costs experimented no change at all (0,0%), whereas raw material costs registered an increase of 0.2%.

The Building and Civil Works subsectors registered a similar evolution, with a 0.3% increase over the previous month in raw materials for Building, and 0,2% in Civil Works. In the interannual evolution of both subsectors it has been observed that both follow similar trajectories albeit with different intensities: raw material costs for Building grow 6.5%, whereas those of raw materials for Civil Works have registered a 5.1% increase.

In the month of June the highest increases in prices were observed in lime, gypsum and plaster (4.9%), explosives and gases (2.1%), metal piping (1.4%), and petroleum derivates (1.2%), among others. On the other hand, there has been a decrease in prices of the following raw materials: electric power (-2.8%), paints and varnishes (-0.1%), extracted arid substances (-0.1%) and electrical devices and material (-0.1%).

Amongst the prices of raw materials consumed by the sector that have experienced the highest inflation rates throughout the last twelve months are: glass (24.0%), iron and steel (20.2%), metal piping (17.2%) and lime, gypsum and plaster (8.1%). On the other hand, decreases have been observed in interannual prices (June 2007 compared with June 2006) in asphalt products (-8.4%) petroleum derivates (-2.8%), and structures and metal forming (-1.4%).

Building Costs Index - Autonomous Community of the Basque Country / Data Development. June 2007

Source: EUSTAT