Construction Costs Index registered a 0.1% increase in the Autonomous Community of the Basque Country in July 2008 with respect to the previous month, which means that the year-on-year rate for that month stood at 7.7%, according to data facilitated by EUSTAT.

Changes in the year-on-year rate, 1997-2008

(*) The increase provided is that corresponding to the July interannual rate

In the month of July 2008, labour costs remained unchanged (0.0%), whereas raw material costs increased by 0.1%.

Raw materials in the Building and Civil Works sub-sectors showed different trends, with a 0.1% increase over the previous month in Building, while raw materials for Civil Works fell by -0.3%. The year-on-year evolution of these two sub-sectors reveal a greater gap between them, as the cost of building raw materials increased by 7.7%, while Civil Works raw materials increase by 9.7%.

In July, the greatest price increases were seen in raw materials consumed by the sector of Electricity and Gas (5.1%), Furniture Manufacturing (0.8%) and Electronic Equipment (0.5%). On the other hand, Oil By-products (-2.7%), Electrical Equipment (-0.8%), Non-Metallic Industry (-0.2%) and Machinery (-0.1%) witnessed a fall in their prices.

Amongst the prices of raw materials consumed by the sector that have experienced the highest inflation rates over the last twelve months are: Oil By-products (17.6%), Electricity and Gas (17.1%) and Non-Metal Minerals (15.3) On the other hand, smaller increases were registered in the year-on-year prices (July 2008 compared to July 2007) of raw materials for Electronic Material (-2.9%), Timber Industry (1.8%) and Machinery (2.2%).

Building Costs Index - Autonomous Community of the Basque Country / Data Development. July 2008

Source: EUSTAT