The Construction Costs Index for the A.C. of the Basque Country registered a 0.1% rise in August 2008 with regard to the previous month, bringing the inter-annual rate for the month to 7.7%, according to Eustat data.

Inter-annual variation rates, 1997-2008

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

Source: EUSTAT

In August 2008 labour costs registered no variation whatsoever (0.0%), while raw material costs showed a 0.1% increase.

Raw materials for the sub-sectors of Building and Civil Works registered differing patterns, with a 0.2% increase in relation to the previous month in the case of Building and a decrease of 0.3% in the raw material costs of Civil Works. The inter-annual evolution of these two sub-sectors also reflects different intensities, since the raw material costs of Building grew by 7.8%, while those of raw materials for Civil Works accumulated 9.7% growth.

In August, compared to July, the highest price rises were seen among the raw materials consumed by Electric Energy and gas (3.3%), Rubber and Plastic (1.8%) and Chemical Industry (1.6%). Conversely, there was a reduction in the prices for Oil refinery (-3.1%), Electric Material (-0.8%) and Non-Metal Industry (-0.3%).

Among the prices of raw materials consumed by the sector to experience the highest rates of inflation over the twelve-month period were: Electric energy and gas (22.5%), Oil refinery (16.9%), and Non-Metal Minerals (13.3%). On the other hand, the smallest inter-annual price rises (August 2008 in relation to August 2007), were seen among raw materials for Electronic Material (-1.7%), Non-Metal Industry (1.2%) and Timber Industry (1.9%).

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

Source: EUSTAT