Latvia: Construction costs up 4.1% on year in June 2023: statistics

Construction costs in Latvia increased by 4.1% in June 2023, compared to a year earlier, according to data from the Central Statistical Bureau, LSM reports. Labour remuneration rose by 6.7%, maintenance and operational costs of machinery and equipment by 5.8%, and prices of building materials by 2.2% over a year. Compared to May 2023, construction costs declined by 0.2%, however. Prices of building materials fell by 0.4% and maintenance and operational costs of machinery and equipment by 0.1%, while labour remuneration rose by 0.1%.