Press release 25/11/2022
CONSTRUCTION COSTS INDEX. OCTOBER 2022
Construction Costs in the Basque Country rose by 0.4% in October 2022
In year-on-year terms, October 2022 compared to October 2021, costs have increased by 9.9%
The Construction Costs Index in the Basque Country rose by 0.4% in October 2022 with regard to the previous month, according to Eustat data. In relation to the same month of the previous year, costs increased by 9.9%.
Costs in the Building sector were up 0.2% , whereas those in the Civil Works sector rose by 1.3%. In relation to October 2021, prices increased by 12.5% in the case of Civil Works and 9.3% in that of Building.
In respect of the previous month, September 2022, costs of raw materials rose by 0.6%, whereas labour costs remained stable (0.0%). In year-on-year terms, the cost of raw materials increased by 11.2% and labour costs rose by 5.8%.
There was a month-on-month rise in the cost of raw materials of 0.3% in the Building sector, and 1.7% in the Civil Works sector . In their year-on-year evolution, costs of raw materials in Building increased by 10.4% and those in Civil Works were up 14.5%.
Index of construction costs of the Basque Country. Rates of variation (p). October 2022
| | Index | Increase (%) |
| | | m/m-1 | m/m-12 |
| Total | 121,6 | 0,4 | 9,9 |
| Edification | 120,7 | 0,2 | 9,3 |
| Civil work | 125,5 | 1,3 | 12,5 |
| | | | |
| Raw materials | 123,1 | 0,6 | 11,2 |
| Edification | 122,0 | 0,3 | 10,4 |
| Civil work | 128,2 | 1,7 | 14,5 |
| | | | |
| 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 November 25, 2022
Source: Eustat Construction costs index
Prices of raw materials used by the Construction sector that registered the biggest increases in October 2022 on October 2021 were those in the following sectors: Electricity & gas , with an increase of 47.4%; Oil refining, up 42.2%; and Metallurgy, with a rise of 30.5%. However, the sectors with more moderate price increases were: Electronic Material, with a rise of 1.7%, and Manufacture of Machinery, up 4.0%.
Prices of raw materials consumed in the Basque Country by sector A64. Year-on-year rate of change (p). October 2022
| | m / m-12 |
| Non metal minerals | 5,4 |
| Timber and cork industry | 23,9 |
| Petroleum refining | 42,2 |
| Chemical industry | 26,1 |
| Rubber and plastic | 6,7 |
| Non-metallic mineral industries | 14,9 |
| Metallurgy | 30,5 |
| Metal articles | 12,2 |
| Electronic material | 1,7 |
| Electrical material | 5,1 |
| Manufacture of machinery | 4,0 |
| Manufacturing of furniture | 8,0 |
| Electrical energy and gas | 47,4 |
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 November 25, 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