Press release 24/11/2023
CONSTRUCTION COSTS INDEX. OCTOBER 2023
Construction Costs in the Basque Country fell by 0.3% in October 2023
In year-on-year terms, October 2023 compared to October 2022, prices increased by 3.6%
The Construction Costs Index in the Basque Country fell by 0.3% in October 2023 in relation to the previous month, according to Eustat data. Costs increased by 3.6% compared to the same month of 2022.
Costs in the Building sector were down 0.4%, whereas those in the Civil Works sector remained constant. In relation to October 2022, prices increased by 3.8% in the case of Building and 2.9% in that of Civil Works.
Compared to the previous month, September 2023, costs of raw materials fell by 0.4%, while labour costs remained constant. In year-on-year terms, however, the cost of raw materials rose by 4.0% and labour costs were up 2.1%.
The cost of raw materials fell by 0.5% in month-on-month terms in the Building sector and remained constant in the Civil Works sector. In their year-on-year evolution, costs of raw materials in Building increased by 4.3% and those of Civil Works rose by 3.1%.
Index of construction costs of the Basque Country. Rates of variation (p). October 2023
| | Index | Increase (%) |
| | | m/m-1 | m/m-12 |
| Total | 126,1 | -0,3 | 3,6 |
| Edification | 125,4 | -0,4 | 3,8 |
| Civil work | 129,2 | 0,0 | 2,9 |
| | | | |
| Raw materials | 128,2 | -0,4 | 4,0 |
| Edification | 127,3 | -0,5 | 4,3 |
| Civil work | 132,2 | 0,0 | 3,1 |
| | | | |
| 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 November 24, 2023
Source: Eustat Construction costs index
The prices of the raw materials consumed by the Construction sector that recorded the greatest increases in October 2023 on October 2022, were those in the following subsectors: Non-metallic Minerals, which rose by 11.6%; Rubber and Plastics, up 10.8%; and Timber and Cork Industry, with a 6.8% rise. In contrast, the main subsectors producing products that are raw materials of the sector and whose prices have decreased were: Electricity & gas, with a decrease of 29.2%; Oil refining, down 15.5%; and Chemical industry, which fell by 7.4%.
Prices of raw materials consumed in the Basque Country by sector A64. Year-on-year rate of change (p) . October 2023
| | m / m-12 |
| Non metal minerals | 11,6 |
| Timber and cork industry | 6,8 |
| Petroleum refining | -15,5 |
| Chemical industry | -7,4 |
| Rubber and plastic | 10,8 |
| Non-metallic mineral industries | 6,7 |
| Metallurgy | -5,0 |
| Metal articles | 1,1 |
| Electronic material | 2,7 |
| Electrical material | 3,4 |
| Manufacture of machinery | 4,9 |
| Manufacturing of furniture | 6,2 |
| Electrical energy and gas | -29,2 |
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 November 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