Construction Costs Index registered a 0.4% increase in the Autonomous Community of the Basque Country in June 2008 with respect to the previous month, which means the year-on-year rate for that month stood at 7.7%, according to data facilitated by EUSTAT.

In the month of June 2008, labour costs experimented no change at all (0.0%), whereas raw material costs registered an increase of 0.5%.

The Building and Civil Works sub-sectors showed different trends, with a 0.3% increase over the previous month in Building, while raw materials for Civil Works went up by 1.0%. 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 7.6%, while Civil Works raw materials increased by 9.7%.

In the month of June the highest increases in prices were observed in raw materials for Oil By-products (4.0%), Metallurgy (1.7%),and Electrical Material (1.1%). On the other hand, prices of Electricity and Gas (-0.4%), Non-metallic Minerals (-0.1%) and Electronic Material (-0.1%) fell.

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 (18.9%), Non-metallic Minerals (15.2%), Electricity and Gas (11.9%) and Water (11.4%). On the other hand, smaller increases were registered in the year-on-year prices (June 2008 compared to June 2007) of raw materials for Electronic Material (-3.0%), Timber Industry (2.4%) and Machinery (2.5%).

Source: EUSTAT