Press release 27/06/2022
CONSTRUCTION COSTS INDEX. MAY 2022
Construction Costs in the Basque Country rose by 0.9% in May 2022
In year-on-year terms, May 2022 compared to May 2021, costs increased by 11.3%
The Construction Costs Index in the Basque Country increased by 0.9% in May 2022 in respect of the previous month, according to EUSTAT data. In relation to the same month of the previous year, costs increased by 11.3%.
Costs in the Civil sector increased by 1.5% in month-on-month terms, while those in the Building Works sector were up 0.7%. In relation to May 2021, prices increased by 10.4% in the case of Building and 14.9% in that of Civil Works.
Year-on-year variation rate of the Index of construction costs in the Basque Country by sector
Percentage
May, 2021 Jul, 2021 Sep, 2021 Nov, 2021 Jan, 2022 Mar, 2022 May, 2022 |
Jan, 1996 Jan, 2001 Jan, 2006 Jan, 2011 Jan, 2016 Jan, 2021 |
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Compared to the previous month, April 2022, costs of raw materials rose by 1.1%, whereas labour costs remained stable (0.0%). In year-on-year terms, the cost of raw materials increased by 13.0% and labour costs rose by 5.8%.
The Building sector saw a month-on-month rise of 0.9 % in the cost of raw materials and in the Civil Works sector the increase stood at 1.9%. In their year-on-year evolution, costs of raw materials in Building increased by 11.9% and those in Civil Works were up 17.7%.
Index of construction costs of the Basque Country. Rates of variation (p). May 2022
| | Index | Increase (%) |
| | | m/m-1 | m/m-12 |
| Total | 120,7 | 0,9 | 11,3 |
| Edification | 119,9 | 0,7 | 10,4 |
| Civil work | 124,1 | 1,5 | 14,9 |
| | | | |
| Raw materials | 121,9 | 1,1 | 13,0 |
| Edification | 120,9 | 0,9 | 11,9 |
| Civil work | 126,3 | 1,9 | 17,7 |
| | | | |
| 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 June 27, 2022
Source: Eustat Construction costs index
Prices of the raw materials consumed by the Construction sector that recorded the biggest increases in May 2022 on May 2021, are included in the following sectors: Oil Refining, with a rise of 70.5%; Electricity & Gas , up 70.2%; and Metallurgy, where costs increased by 52.9%. In contrast, the sectors with more moderate increases in the prices of their raw materials were: Non-Metallic Minerals, with an increase of 4.2%; Electrical Material up 5.0%; and Manufacture of machinery, with a rise of 5.1%.
Prices of raw materials consumed in the Basque Country by sector A64. Year-on-year rate of change (p). May 2022
| | m / m-12 |
| Non metal minerals | 4,2 |
| Timber and cork industry | 23,9 |
| Petroleum refining | 70,5 |
| Chemical industry | 30,1 |
| Rubber and plastic | 7,3 |
| Non-metallic mineral industries | 10,3 |
| Metallurgy | 52,9 |
| Metal articles | 15,8 |
| Electronic material | 9,0 |
| Electrical material | 5,0 |
| Manufacture of machinery | 5,1 |
| Manufacturing of furniture | 5,6 |
| Electrical energy and gas | 70,2 |
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 June 27, 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