The development in the last month

The Construction cost index rose by 0.1 percent between November and December 2017. In the corresponding period in 2016, it decreased by 0.1 percent. Contractors’ costs, which account for more than 82 percent of the Construction cost index, increased by 0.2 percent between November and December 2017.

Among contractors’ costs, costs increased for building materials and the group ‘transport, fuel and electricity’. Machinery costs decreased. Expenses, wages and salaries remained unchanged.

In the ‘building materials’ group, reinforcement steel prices continued to rise most among materials. Plumbing material, iron and steel, other materials, wood products, concrete, floor materials and electric materials also increased between November and December 2017. Prices of woodwork and materials for painting remained unchanged.

Investor costs decreased by 0.6 percent between November and December 2017. This decrease was due to lower interest expenses.

The development in the past year

The Construction cost index increased by 2.8 percent and contractors’ costs rose by 2.6 percent between December 2016 and December 2017. The increased contractors’ costs resulted in an increase of 2.2 percentage points for the total index in the same period.

The transport, fuel and electricity group increased most among contractors’ costs. The building materials, machinery, overheads and wages and salaries groups also increased.

Building material costs rose by 3.1 percent. Reinforcement steel and iron and steel accounted for the largest price increase in the building materials group, which increased by 11.4 percent and 6.9 percent respectively. Costs in other building material groups also rose between 0.9 percent and 4.3 percent.

Investor costs increased by 3.7 percent between December 2016 and December 2017.