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Press Release 29/07/2013

CONSTRUCTION COSTS INDEX OF THE BASQUE COUNTRY (ICCE) JUNE 2013

Construction costs in the Basque Country fell 0.8% in June 2013 compared to the previous month

Compared to June 2012 there was no variation in construction costs (0.0%)

The Construction Costs in the Basque Country fell by 0.8% in June 2013 with regards to the previous month, whilst there was no appreciable variation in the year-on-year rate (0.0%) for the same month, according to data provided by EUSTAT.

With regards to the previous month, in June 2013 labour costs witnessed no variation (0.0%), whereas raw material costs fell by 1.1%.

The sub-sectors of Building and Civil Works registered an identical evolution in terms of the cost of their raw materials in June with regards to the previous month, in both cases dropping by 1.1%. The year-on-year evolution of these two sub-sectors illustrates that costs of raw materials in Building fell 0.2%, whilst costs in Civil Works were down by 0.7%.

Non-metal Industry (3.1%), Oil Refining (2.2%), and Machinery (2.0%) stood out amongst the sectors that experienced the highest inflation rates over the last twelve months as regards prices of raw materials. In contrast, the greatest falls in annual prices (June 2013 on June 2012) were witnessed in the prime materials of the sectors of Metallurgy (-5.6%), Electricity & Gas (-5.1%), and Non-Metallic Minerals (-1.4%).

TABLE 1. CONSTRUCTION COSTS INDEX OF THE BASQUE COUNTRY. VARIATION RATE. JUNE 2013 (p)
Source: EUSTAT. Index of construction costs of the Basque Country