Press release 25/10/2023
CONSTRUCTION COSTS INDEX. SEPTEMBER 2023
Construction Costs in the Basque Country rose by 0.9% in September 2023
In year-on-year terms, September 2023 compared to September 2022, prices increased by 4.4%
The Construction Costs Index in the Basque Country rose by 0.9% in September 2023 in relation to the previous month, according to Eustat data. Costs increased by 4.4% compared to the same month of 2022.
Costs in the Building sector rose by 0.8%, whereas those in the Civil Works sector were up 1.4%. In relation to September 2022, prices increased by 4.5% in the case of Building and 4.3% in that of Civil Works.
Compared to the previous month (August 2023), costs of raw materials rose by 1.2%, while labour costs remained constant. In year-on-year terms, however, the cost of raw materials rose by 5.1% and labour costs were up 2.1%.
There was a month-on-month increase in the cost of raw materials of 1.0% in the Building sector and of 1.8% in the Civil Works sector. In their year-on-year evolution, costs of raw materials in Building increased by 5.2% and those of Civil Works rose by 4.9%.
Index of construction costs of the Basque Country. Rates of variation (p). September 2023
| | Index | Increase (%) |
| | | m/m-1 | m/m-12 |
| Total | 126,5 | 0,9 | 4,4 |
| Edification | 125,8 | 0,8 | 4,5 |
| Civil work | 129,2 | 1,4 | 4,3 |
| | | | |
| Raw materials | 128,8 | 1,2 | 5,1 |
| Edification | 128,0 | 1,0 | 5,2 |
| Civil work | 132,2 | 1,8 | 4,9 |
| | | | |
| 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 October 25, 2023
Source: Eustat Construction costs index
The prices of the raw materials used by the Construction sector that recorded the greatest increases in September 2023 on September 2022 were those in the following subsectors: Timber and Cork Industry, with a 23.9% increase; Non-Metallic Minerals, up 11.5%; and Rubber and Plastics, which rose by 11.4%. In contrast, the main subsectors producing products that are raw materials of the sector and whose prices have decreased were: Electricity & Gas, with a 25.2% decrease; Chemical Industry, down 7.0%; and Oil Refining, which fell by 5.6%.
Prices of raw materials consumed in the Basque Country by sector A64. Year-on-year rate of change (p) . September 2023
| | m / m-12 |
| Non metal minerals | 11,5 |
| Timber and cork industry | 23,9 |
| Petroleum refining | -5,6 |
| Chemical industry | -7,0 |
| Rubber and plastic | 11,4 |
| Non-metallic mineral industries | 8,3 |
| Metallurgy | -3,6 |
| Metal articles | 2,3 |
| Electronic material | 1,7 |
| Electrical material | 3,4 |
| Manufacture of machinery | 4,4 |
| Manufacturing of furniture | 6,7 |
| Electrical energy and gas | -25,2 |
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 October 25, 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