Press release 24/03/2023
CONSTRUCTION COSTS INDEX. FEBRUARY 2023
Construction Costs in the Basque Country rose by 1.0% in February 2023
In year-on-year terms, February 2023 compared to February 2022, prices increased by 9.3%
The Construction Costs Index in the Basque Country rose by 1.0% in the second month of 2023 in relation to the first month, according to Eustat data. Costs increased by 9.3% compared to the same month of 2022.
In month-on-month terms, costs in the Building sector were up 1.0% and those in the Civil Works sector rose 1.2%. In relation to February 2022, prices increased by 11.6% in Civil Works and 8.8% in Building.
Compared to the previous month (January 2023), costs of raw materials rose by 1.4%, and labour costs remained constant. In year-on-year terms, however, the cost of raw materials rose by 11.5% and labour costs were up 2.1%.
There was a month-on-month rise in the cost of raw materials of 1.3% in the Building sector, and 1.5% in the Civil Works sector. In their year-on-year evolution, costs of raw materials in Building increased by 10.9% and those in Civil Works rose by 14.4%.
Index of construction costs of the Basque Country. Rates of variation (p). February 2023
| | Index | Increase (%) |
| | | m/m-1 | m/m-12 |
| Total | 126,7 | 1,0 | 9,3 |
| Edification | 126,0 | 1,0 | 8,8 |
| Civil work | 130,0 | 1,2 | 11,6 |
| | | | |
| Raw materials | 129,1 | 1,4 | 11,5 |
| Edification | 128,1 | 1,3 | 10,9 |
| Civil work | 133,3 | 1,5 | 14,4 |
| | | | |
| Labour | 119,1 | 0,0 | 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 March 24, 2023
Source: Eustat Construction costs index
Prices of raw materials used by the Construction sector which registered the biggest increases in February 2023 on February 2022 were those in the following sectors: Non-Metallic Minerals, up 18.3%, Timber and Cork Industry, with a rise of 18.2%, Non-metallic Minerals Industry, with a 16.8% increase, and Rubber and Plastics, up 13.1%. In contrast, the sectors with more moderate increases in the prices of their raw materials were: Electronic Material, with a 3.2% increase, Manufacture of Machinery, up 4.3% and Oil Refining with a rise of 4.4%.
Prices of raw materials consumed in the Basque Country by sector A64. Year-on-year rate of change (p) . February 2023
| | m / m-12 |
| Non metal minerals | 18,3 |
| Timber and cork industry | 18,2 |
| Petroleum refining | 4,4 |
| Chemical industry | 11,8 |
| Rubber and plastic | 13,1 |
| Non-metallic mineral industries | 16,8 |
| Metallurgy | 12,5 |
| Metal articles | 6,7 |
| Electronic material | 5,3 |
| Electrical material | 3,2 |
| Manufacture of machinery | 4,3 |
| Manufacturing of furniture | 8,0 |
| Electrical energy and gas | 7,1 |
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 March 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