Press release 26/08/2022
CONSTRUCTION COSTS INDEX. JULY 2022
Construction costs in the Basque Country were down 0.7% in July 2022
In year-on-year terms, July 2022 compared to July 2021, costs were up 10.6%
The Construction Costs Index in the Basque Country fell by 0.7% in July 2022 compared to the previous month, according to Eustat data. In relation to the same month of the previous year, costs increased by 10.6%.
Costs in the Civil Works sector decreased by 2.1% in month-on-month terms, while those in the Building sector by 0.4%. In relation to July 2021, prices increased by 14.1% in the case of Civil Works and 9.9% in that of Building.
Compared to the previous month, June 2022, costs of raw materials fell by 0.9%, while labour costs remained stable (0.0%). In year-on-year terms, the cost of raw materials rose by 12.2% and labour costs were up 5.8%.
The Building sector saw a month-on-month drop of 0.5% in the cost of raw materials and in the Civil Works sector it stood at 2.7%. In their year-on-year evolution, costs of raw materials in Building increased by 11.2% and those in Civil Works were up 16.6%.
Index of construction costs of the Basque Country. Rates of variation (p). July 2022
| | Index | Increase (%) |
| | | m/m-1 | m/m-12 |
| Total | 120,4 | -0,7 | 10,6 |
| Edification | 119,7 | -0,4 | 9,9 |
| Civil work | 123,5 | -2,1 | 14,1 |
| | | | |
| Raw materials | 121,5 | -0,9 | 12,2 |
| Edification | 120,6 | -0,5 | 11,2 |
| Civil work | 125,6 | -2,7 | 16,6 |
| | | | |
| 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 August 26, 2022
Source: Eustat Construction costs index
Prices of raw materials consumed by the Construction sector that registered the biggest increases in July 2022 on July 2021 were those in the following sectors: Oil Refining, with a rise of 65.3%; Electricity & Gas , up 48.2%; and Metallurgy, where costs increased by 32.1%. In contrast, the sectors with more moderate increases in the prices of their raw materials were: Manufacture of furniture, which was up 4.8%, and Electrical Material and Manufacture of Machinery, both with a rise of 5.0%.
Prices of raw materials consumed in the Basque Country by sector A64. Year-on-year rate of change (p). July 2022
| | m / m-12 |
| Non metal minerals | 5,5 |
| Timber and cork industry | 18,7 |
| Petroleum refining | 65,3 |
| Chemical industry | 29,5 |
| Rubber and plastic | 6,9 |
| Non-metallic mineral industries | 16,6 |
| Metallurgy | 32,1 |
| Metal articles | 11,4 |
| Electronic material | 8,3 |
| Electrical material | 5,0 |
| Manufacture of machinery | 5,0 |
| Manufacturing of furniture | 4,8 |
| Electrical energy and gas | 48,2 |
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 August 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