Press release dated 29/06/2011

CONSTRUCTION COSTS INDEX OF THE BASQUE BASQUE COUNTRY (ICCE) MAY 2011

Construction costs in the Basque Country fell by 0.7% in May 2011 in relation the previous month

Over the last twelve months (May 2011 compared to May 2010, construction costs remained steady (0.0%)

The Construction Costs Index of the Basque Country fell by 0.7% in May 2011 with respect to the previous month, which meant that the year-on-year rate for that month remained unchanged (0.0%), according to EUSTAT data.

In May 2011, labour costs remained unchanged (0.0%), whereas raw material costs fell by 0.9%, compared to the previous month.

The Building and Civil Works sub-sectors registered different performances in the cost of their raw materials in May, with a 0.7% decrease in Building costs compared to the previous month and a fall of 1.7% in the case of Civil Works. In terms of the year-on-year figures for these two sub-sectors, the costs of Building raw material costs dipped by 1.0%, whereas Civil Works posted a 2.2% increase.

Oil Refining (19.0%), Electricity, Gas & Steam (18.2%),and Metallurgy (11.8%) stood out among the prices of raw materials used by the sector that had experienced the highest inflation rates over the last twelve months. On the other hand, the annual prices (May 2011 compared to May 2010) of raw materials decreased or posted smaller increases in the following sectors: Extraction Industries (-8.4%), Manufacturing of other Non-metal Mineral Products (0.5%) and Manufacturing Furniture and other Manufacturing Industries (1.4%).

For further information:

Basque Statistics Office C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz Tel: +34-945-01 75 00 Fax:+34-945-01 75 01 E-mail: eustat@eustat.es Contact: Gerardo Pérez Aja Tel: +34-945-01 75 06 Fax:+34-945-01 75 01 Further press releases on the Construction Costs Index of the Basque Country