The Building Costs Index registered a 0.3% increase in the Autonomous Community of the Basque Country in February 2007 with respect to the previous month, as a consequence of which the interannual rate for that month reaches 5.5%, according to data facilitated by EUSTAT, the Basque Statistics Office.

Changes in the inter-annual rate, 1997-2007

(*)The increase shown is the inter-annual one for February

Source: EUSTAT

In the month of February 2007 labour costs experimented no change at all (0,0%), whereas raw material costs registered an increase of 0.4%.

The Building and Civil Works subsectors registered a similar evolution, with a 0.4% increase over the previous month, both in Building, and in raw materials for 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 6.8%, whereas those of raw materials for Civil Works have registered a 5.1% increase.

In the month of February the highest increases in prices were observed in petroleum derivates (4.1%), elaborated stone (4.1%), asphalt products (3.5%), glass (2.9%) and lime, gypsum and plaster (2.2%), among others. On the other hand, there has been a decrease in prices of raw materials in the following chapters: used machinery accessories (-2.4%), explosives and gases (-1.6%), metal piping (-0.8%) and electrical devices and material (-0.2%), among others.

Amongst the prices of raw materials consumed by the sector that have experienced the highest inflation rates throughout the last twelve months are: iron and steel (23.4%), electric power (18,4%), glass (18,1%) and metal piping (17.4%). On the other hand, decreases have been observed in interannual prices (February 2007 compared with February 2006) in petroleum derivates (-8.2%), asphalt products (-7.0%) and cleaning materials (-0.1%).

Construction costs index A.C. of Euskadi / Data summary. February 2007

Source: EUSTAT