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Press Release 26/02/2014

CONSTRUCTION COSTS INDEX OF THE BASQUE COUNTRY (ICCE) JANUARY 2014

Construction costs in the Basque Country rose 0.3% in January 2014 compared to the previous month

Compared to the previous year, January 2013, construction costs fell by 0.4%

There was a 0.3% rise in Construction Costs in the Basque Country in January 2014 compared to the previous month, whilst the year-on-year rate for the same month fell by 0.4%, according to data provided by EUSTAT.

With regards to the previous month, labour costs rose by 1.8%, whereas raw material costs fell by 0.2%.

In January, the sub-sectors of Building and Civil Works showed a similar evolution in the cost of their raw materials in relation to the previous month, with a fall of 0.1% in Building and of 0.3% in raw materials consumed in Civil Works. The year-on-year performance of both sub-sectors was negative. Building raw material costs fell by 0.8%, whereas those for Civil Works recorded a 1.8% decrease.

The prices of raw materials consumed, by sector, that recorded the biggest increases in their annual prices (January 2014 on January 2013) included those in the following sectors: Electricity and Gas (3.1%), and the Timber Industry and Non-Metal Industry which both rose by 1.9%. On the other hand, sectors that saw the biggest price reductions over the last twelve months in raw materials include the Metallurgy and Oil Refining sectors, which both fell by 5.1%, and Electrical Material which was down by 2.7%.

TABLE 1. CONSTRUCTION COSTS INDEX OF THE BASQUE COUNTRY. VARIATION RATE. JANUARY 2014 (p)
Source: EUSTAT. Index of construction costs of the Basque Country