Press release 26/06/2023
CONSTRUCTION COSTS INDEX. MAY 2023
Construction costs in the Basque Country rose by 0.2% in May 2023
In year-on-year terms (May 2023 compared to May 2022), prices increased by 4.2%
The Construction Costs Index in the Basque Country rose by 0.2% in May 2023 in relation to the previous month, according to Eustat data. Costs increased by 4.2% compared to the same month of 2022.
In month-on-month terms, costs in the Building sector were up 0.6%, whereas those in the Civil Works sector were down 1.1%. In relation to May 2022, prices increased by 4.7% in the case of Building and 2.3% in that of Civil Works.
Compared to the previous month (April 2023), costs of raw materials rose by 0.3%, while labour costs remained constant. In year-on-year terms, however, the cost of raw materials rose by 4.9% and labour costs were up 2.1%.
There was a month-on-month rise in the cost of raw materials of 0.7% in the Building sector, while there was a month-on-month decrease of 1.5% in the Civil Works sector. In their year-on-year evolution, costs of raw materials in Building increased by 5.5% and those in Civil Works rose by 2.3%.
Index of construction costs of the Basque Country. Rates of variation (p). May 2023
| | Index | Increase (%) |
| | | m/m-1 | m/m-12 |
| Total | 125,8 | 0,2 | 4,2 |
| Edification | 125,5 | 0,6 | 4,7 |
| Civil work | 126,9 | -1,1 | 2,3 |
| | | | |
| Raw materials | 127,8 | 0,3 | 4,9 |
| Edification | 127,5 | 0,7 | 5,5 |
| Civil work | 129,2 | -1,5 | 2,3 |
| | | | |
| 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 June 26, 2023
Source: Eustat Construction costs index
The prices of the raw materials consumed by the Construction sector that recorded the biggest increases in May 2023 on May 2022 were those in the following sectors: Non-metallic Minerals Industry, which rose by 16.4%; Timber and Cork Industry, with an increase of 14.4%; Rubber and Plastics, up 11.4%; and Non-Metallic Minerals, with growth of 11.2%. In contrast, the main subsectors producing products that are raw materials of the sector and whose prices have decreased were: Oil Refining with a price reduction of 28.3% and Electricity & Gas with a decrease of 24.5%.
Prices of raw materials consumed in the Basque Country by sector A64. Year-on-year rate of change (p) . May 2023
| | m / m-12 |
| Non metal minerals | 11,2 |
| Timber and cork industry | 14,4 |
| Petroleum refining | -28,3 |
| Chemical industry | 2,2 |
| Rubber and plastic | 11,4 |
| Non-metallic mineral industries | 16,4 |
| Metallurgy | -8,3 |
| Metal articles | 1,4 |
| Electronic material | -1,1 |
| Electrical material | 3,6 |
| Manufacture of machinery | 5,4 |
| Manufacturing of furniture | 5,7 |
| Electrical energy and gas | -24,5 |
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 26, 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