According to Tõnu Toompark’s Adaur blog, the price index for repair and reconstruction work in Estonia appears to be following that of construction itself, seeing a recent rise.
Whilst the price index for construction work in the first quarter of 2011 saw a rise of 1.5 per cent, repair and reconstruction work has seen an increase of 1.7 per cent over the same period.
In both cases the index rise was the main factor in a subsequent rise in labour costs. This has led to an overall increase in repair and reconstruction work of 5.1 per cent year-on-year.
The full article, together with graphs showing figures for indices along with percentage changes in indices for building materials, capital, labour and the overall index, since 2001, can be viewed here. The all time high in labour cost index figures came in the first quarter of 2008, at a little under 280 (the index is calibrated anachronistically to 100 in 1997). This was followed by a steep drop in the downturn of 2008-2010, and stands at a little over 220 today.
[…] ’rounding up’ around the time of the currency’s adoption in January 2011) and the rise in construction material prices may have been two causes of […]
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