The Construction Costs Index in the Autonomous Community of the Basque Country registered an increase of 0.5% in the month of March 2007 with respect to the previous month, and consequently the annual carryover rate for that month reaches 5.7%, according to data facilitated by EUSTAT.

Annual carryover variation rate, 1997-2007

(*) The increase specified is the carryover corresponding to March

Source: EUSTAT

During the month of March 2007 the cost of labour did not experience any variation whatsoever (0.0%), whereas the costs of raw materials registered an increase of 0.7%.

The Building and Civil Works sub-sectors registered an identical evolution, with an increase of 0.7% on the previous month, both in the Building section and in the section on Civil Works raw material costs. In terms of annual carryover evolution, it has been observed that both sub-sectors follow similar tendencies albeit with different intensities: Building raw material costs grow 7.1%, whereas Civil Works raw materials accumulate a 5.4% increase.

During the month of March the highest increases took place in consumed raw materials of Petroleum Derivates (4.6%), Asphalt Products (4.0%), Iron and Steel (3.1%), Metal Hardware Articles (2.4%) and Glass (1.6%), among others. On the other hand, prices decreased in raw materials related to Lime, Gypsum and Plaster (-1.7%), Structures and Coppersmithing (-1.0%), Explosives and Gasses (-0.2%) and Tar Sands (-0.1%), among others.

Among the prices of raw materials consumed by the sector that experienced the highest inflation rates throughout the twelve last months are: Iron and Steel (24.6%), Metal Piping (18.5%), Glass (17.3%) and Electric Power (16.6%). On the other hand, raw materials like Petroleum Derivates (-6,4%) and Asphalt Products (-4.9%) registered decreases in their annual carryover prices (March 2007 with respect to March 2006).

Construction Costs Index Basque Country / Data Preview. March 2007

Source: EUSTAT