Press release 25/09/2024
CONSTRUCTION COSTS INDEX. AUGUST 2024
Construction Costs in the Basque Country fell by 0.5% in August 2024
In year-on-year terms, August 2024 compared to August 2023, prices increased by 2.5%
The Construction Costs Index in the Basque Country fell by 0.5% in August 2024 in relation to the previous month, according to Eustat data. Costs increased by 2.5% compared to the same month of 2023.
Costs in the Building sector were down 0.5% and those in the Civil Works sector fell by 0.6%. However, in relation to August 2023, prices increased by 2.5% in the case of Building and 2.6% in that of Civil Works.
Compared to the previous month, July 2024, costs of raw materials fell by 0.6%, while labour costs remained constant. In year-on-year terms, the cost of raw materials increased by 1.7% and labour costs rose by 5.4%.
There was a month-on-month decrease in the cost of raw materials of 0.6% in the Building sector and of 0.8% in the Civil Works sector. In their year-on-year evolution, costs of raw materials in the Building sector increased by 1.7% and those of Civil Works were up 1.8%.
Index of construction costs of the Basque Country. Rates of variation (p). August 2024
| | Index | Increase (%) |
| | | m/m-1 | m/m-12 |
| Total | 128,9 | -0,5 | 2,5 |
| Edification | 128,4 | -0,5 | 2,5 |
| Civil work | 131,3 | -0,6 | 2,6 |
| | | | |
| Raw materials | 130,0 | -0,6 | 1,7 |
| Edification | 129,3 | -0,6 | 1,7 |
| Civil work | 133,1 | -0,8 | 1,8 |
| | | | |
| Labour | 125,5 | 0,0 | 5,4 |
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 September 25, 2024
Source: Eustat Construction costs index
The prices of the raw materials consumed by the Construction sector that recorded the greatest increases in August 2024 on August 2023, were those in the following subsectors: Non-metallic Minerals, which rose by 9.8%; Manufacture of Furniture, up 3.4%; and Electrical Material, with a 3.0% increase. In contrast, the main subsectors producing products which are raw materials of the sector and whose prices have decreased the most were: Electricity & Gas , with a decrease of 24.0%; Oil Refining, down 17.3%; and Non-Metallic Mineral Industry, which fell by 8.6%.
Prices of raw materials consumed in the Basque Country by sector A64. Year-on-year rate of change (p). August 2024
| | m / m-12 |
| Non metal minerals | 9,8 |
| Timber and cork industry | -3,0 |
| Petroleum refining | -17,3 |
| Chemical industry | 0,8 |
| Rubber and plastic | 0,7 |
| Non-metallic mineral industries | -8,6 |
| Metallurgy | -5,5 |
| Metal articles | 1,1 |
| Electronic material | 1,5 |
| Electrical material | 3,0 |
| Manufacture of machinery | 0,8 |
| Manufacturing of furniture | 3,4 |
| Electrical energy and gas | -24,0 |
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 September 25, 2024
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