Press release 26/04/2022
CONSTRUCTION COSTS INDEX. MARCH 2022
Construction Costs in the Basque Country rose by 1.6% in March 2022
In year-on-year terms, March 2022 compared to March 2021, costs increased by 9.3%
The Construction Costs Index in the Basque Country rose by 1.6% in March 2022 in respect of the previous month, according to Eustat data. In relation to the same month of the previous year, costs increased by 9.3%.
Costs in the Building sector increased by 1.2% in month-on-month terms, while those in the Civil Works sector were up 3.4%. In relation to March 2021, prices increased by 8.6% in the case of Building and 12.3% in that of Civil Works.
Compared to the previous month February 2022, costs of raw materials rose by 2.2%, whereas labour costs remained stable (0.0%). In year-on-year terms, the cost of raw materials increased by 10.4% and labour costs rose by 5.8%.
The Building sector saw a month-on-month increase of 1.6% in the cost of its raw materials and the Civil Works sector a rise of 4.4%. In their year-on-year evolution, costs of raw materials in Building increased by 9.5% and those in Civil Works were up 14.3%.
Index of construction costs of the Basque Country. Rates of variation (p). March 2022
| | Index | Increase (%) |
| | | m/m-1 | m/m-12 |
| Total | 117,8 | 1,6 | 9,3 |
| Edification | 117,2 | 1,2 | 8,6 |
| Civil work | 120,5 | 3,4 | 12,3 |
| | | | |
| Raw materials | 118,1 | 2,2 | 10,4 |
| Edification | 117,3 | 1,6 | 9,5 |
| Civil work | 121,6 | 4,4 | 14,3 |
| | | | |
| Labour | 116,7 | 0,0 | 5,8 |
Base 2015=100
m / m-1 Variation rate of the last observed month (m) compared to the previous month (m-1)
m / m-12 Year-on-year variation rate of the last observed month (m) compared to the same month of the previous year (m-12)
(p)Provisional data
Date April 26, 2022
Source: Eustat Construction costs index
Prices of raw materials consumed by the sector that recorded the biggest increases in March 2022 on March 2021, are those in the following sectors: Oil Refining, with a rise of 60.9%; Electricity & Gas , up 59.2%; and Metallurgy, where costs increased by 29.5%. The sectors with more moderate price increases were: Non-Metallic Minerals with a rise of 4.2% and Manufacture of Furniture with an increase of 4.4%.
Prices of raw materials consumed in the Basque Country by sector A64. Year-on-year rate of change (p). March 2022
| | m / m-12 |
| Non metal minerals | 4,2 |
| Timber and cork industry | 21,3 |
| Petroleum refining | 60,9 |
| Chemical industry | 25,5 |
| Rubber and plastic | 7,4 |
| Non-metallic mineral industries | 10,0 |
| Metallurgy | 29,5 |
| Metal articles | 10,9 |
| Electronic material | 8,4 |
| Electrical material | 5,0 |
| Manufacture of machinery | 4,9 |
| Manufacturing of furniture | 4,4 |
| Electrical energy and gas | 59,2 |
Base 2015=100
(p)Provisional data
m / m-12 Year-on-year variation rate of the last observed month (m) compared to the same month of the previous year (m-12)
Date April 26, 2022
Source: Eustat Construction costs index
For further information:
Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Press Service: servicioprensa@eustat.eus Tel.: 945 01 75 62