CONSTRUCTION COSTS INDEX OF THE BASQUE COUNTRY (ICCE) OCTOBER 2011. There was no variation in Construction costs (0.0%) in the Basque Country in October 2011 compared to the previous month

Press release 29/11/2011

CONSTRUCTION COSTS INDEX OF THE BASQUE COUNTRY (ICCE) OCTOBER 2011

There was no variation in Construction costs (0.0%) in the Basque Country in October 2011 compared to the previous month

Over the last twelve months (October 2010 to October 2011) construction costs registered a 2.0% increase

There was no variation in the Construction Costs index (0.0%) in the Basque Country in October 2011 with respect to the previous month, whilst the year-on-year rate for that month rose by 2.0%, according to EUSTAT data.

Changes in the year-on-year rate for the month of December, 2006-2011

Compared to the previous month, in October 2011 there was no variation (0.0%) in either labour costs or raw material costs.

The subsectors of Building and Civil Works showed a similar evolution in the cost of raw materials in October, with no change in the case of Building costs (0.0%) compared to the previous month and 0.1% in the case of Civil Works. The year-on-year evolution of these two sub-sectors illustrates that costs of raw materials in Building rose by 1.5%, whilst costs in Civil Works rose by 4.9%.

Amongst the prices of raw materials consumed by the sector that have experienced the highest degree of inflation over the course of the last twelve months, attention should be drawn to raw materials in Oil Refining (23.8%), Electricity (22.5%) and Chemical Industry (7.4%), amongst others. In contrast, falls or less dramatic increases in annual prices (October 2010 to October 2011) were witnessed in the prime materials of the Extraction Industries sector (-1.1%), Manufacturing of other Non-metal Mineral Products (0.1%) and Manufacturing of Furniture and other Manufacturing Industries (1.3%).

CONSTRUCTION COSTS INDEX - BASQUE COUNTRY. OCTOBER 2011. PROVISIONAL DATA