Construction costs up 4.8 percent in Latvia in September

Construction costs in Latvia rose by 0.5 percent in September compared to August according to the latest data from Latvia's Central Statistics Bureau. This increase was driven by a 1.2 percent increase in labor costs and 0.5 percent increase in the operational costs of machinery and equipment. However, in the same period, the cost of building materials only rose by 0.1 percent. When compared to September 2017 costs rose by 4.8 percent, led by a 9.8 percent increase in labor outlays. However during the same period building material prices rose by 3.6 percent and the upkeep and use of machinery and equipment by 3.5 percent.