Press release 24/02/2023
CONSTRUCTION COSTS INDEX. JANUARY 2023
Construction costs in the Basque Country rose by 2.8% in January 2023
In year-on-year terms, January 2023 compared to January 2022, prices increased by 8.6%
The Construction Costs Index in the Basque Country rose by 2.8% in the first month of 2023 in relation to the previous month, according to Eustat data. Costs increased by 8.6% compared to the same month of 2022.
In month-on-month terms, costs in the Building sector were up 2.7% and those in the Civil Works sector rose 3.2%. In relation to January 2022, prices increased by 10.5% in Civil Works and 8.2% in Building.
Compared to the previous month (December 2022), costs of raw materials rose by 3.0%, and labour costs were up 2.1%. In year-on-year terms, however, the cost of raw materials rose by 10.7% and labour costs were up 2.1%.
There was a month-on-month rise in the cost of raw materials of 2.9% in the Building sector, and 3.6% in the Civil Works sector. In their year-on-year evolution, costs of raw materials in Building increased by 10.1% and those in Civil Works rose by 13.1%.
Index of construction costs of the Basque Country. Rates of variation (p). January 2023
| | Index | Increase (%) |
| | | m/m-1 | m/m-12 |
| Total | 125,2 | 2,8 | 8,6 |
| Edification | 124,6 | 2,7 | 8,2 |
| Civil work | 128,3 | 3,2 | 10,5 |
| | | | |
| Raw materials | 127,2 | 3,0 | 10,7 |
| Edification | 126,3 | 2,9 | 10,1 |
| Civil work | 131,1 | 3,6 | 13,1 |
| | | | |
| Labour | 119,1 | 2,1 | 2,1 |
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 Februay 24, 2023
Source: Eustat Construction costs index
Prices of raw materials used by the Construction sector which registered the biggest increases in January 2023 on January 2022 were those in the following sectors: Timber and Cork Industry (20.2%), Oil Refining (15.9%), Chemical Industry (15.6%) and Non-Metallic Minerals Industry (15.5%). In contrast, the sectors with more moderate increases in the prices of their raw materials were: Electrical Material with a rise of 3.8% and Electronic Material with an increase of 4.0%.
Prices of raw materials consumed in the Basque Country by sector A64. Year-on-year rate of change (p) . January 2023
| | m / m-12 |
| Non metal minerals | 13,0 |
| Timber and cork industry | 20,2 |
| Petroleum refining | 15,9 |
| Chemical industry | 15,6 |
| Rubber and plastic | 6,1 |
| Non-metallic mineral industries | 15,5 |
| Metallurgy | 15,4 |
| Metal articles | 8,4 |
| Electronic material | 4,0 |
| Electrical material | 3,8 |
| Manufacture of machinery | 5,8 |
| Manufacturing of furniture | 4,3 |
| Electrical energy and gas | 6,8 |
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 Februay 24, 2023
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