Construction costs in the Basque Country increased by 0.4%

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The Building Costs Index for the Autonomous Community of the Basque Country registered a 0.4% increase in the month of April 2007 with respect to the previous month, as a result of which the Inter.-annual rate for that month adds up to 5.7%, according to data facilitated by EUSTAT.

During the month of April 2007, labour costs did not increase at all (0.0%), whereas raw material costs went up by 0.6%.

The Building and Civil Works sub-sectors registered a similar evolution, with an increase of 0.6% on the previous month, both in the Building section and of 0.6% in the section on Civil Works raw material costs. In terms of annual carryover evolution, it has been observed that both sub-sectors follow similar tendencies albeit with different intensities: Building raw material costs grow 7.0%, whereas Civil Works raw materials accumulate a 5.4% increase.

During the month of April the highest increases took place in consumed raw materials of Petroleum Derivates (4.0%), Asphalt Products (4.0%), Glass (2.9%), Metal Piping (2.7%), Iron and Steel (2.5%), and Explosives and Gases, among others. On the other hand, prices decreased in raw materials related to Electric Power (-4.6%) Lime, Gypsum and Plaster (-1.5%), Tar Sands (-0.3%) Artificial Cements (-0.2%), and Woods and Cork (-0.2%), among others.

Among the prices of raw materials consumed by the sector that experienced the highest inflation rates throughout the twelve last months are: Iron and Steel (24.5%), Metal Piping (19.9%), Glass (19.0%) and Electric Power (13.3%). On the other hand, raw materials like Petroleum Derivates (-7,3%) and Asphalt Products (-8.5%) registered decreases in their annual carryover prices (April 2007 with respect to April 2006).