Developments over the last month

The Construction cost index decreased by 0.1 percent between February and March 2018. In the corresponding period in 2017, it remained unchanged. Contractors’ costs, which account for more than 82 percent of the Construction cost index, remained unchanged between February and March 2018.

Among contractors’ costs, building materials rose by 0.1 percent. In the group ‘building materials’, the cost of painting materials rose most among all materials. Wood products, woodwork, iron and steel and other building materials also rose between February and March. The cost of floor material, concrete and electric materials decreased, while white goods, plumbing material and reinforcement steel remained unchanged.

Costs in the group ‘transport, fuel and electricity’ decreased by 0.1 percent, in which the cost of fuel decreased, while costs of transport and electricity remained unchanged. Contractors’ other costs decreased by 0.3 percent, while machinery, wages and salaries remained unchanged.

Investor costs decreased by 0.3 percent between February and March 2018.

Developments over the past year

The Construction cost index increased by 2.6 percent and contractors’ costs rose by 2.7 percent between March 2017 and March 2018. The increased contractors’ costs resulted in an increase of 2.2 percentage points for the total index in the same period.

Building material costs increased most, 3.3 percent, among contractors’ costs. Contractors’ other costs, machinery, wages and salaries groups and the group of transport, fuel and electricity also increased. Reinforcement steel and iron and steel accounted for the largest price increase in the building materials group, and increased by 13.9 percent and 8.2 percent respectively. Costs in other building material groups also rose, except floor material, which decreased.

Investor costs increased by 2.1 percent on an annual basis.