Building costs rise by 6.9% in Jan

Building costs rose by 6.9 per cent in January 2022 from one year back, according to Statistics Finland.

The costs of materials went up by 10.8 per cent and labour costs by 3.6 per cent year-on-year.

The prices of services fell by 0.4 per cent.

From December to January, the total index of building costs fell by 0.1 per cent. The prices of labour inputs fell by 0.3 per cent. The prices of services grew by 0.1 per cent from the previous month. The prices of materials remained on level with December.

The Building Cost Index has been renewed and the new base year is 2021. The data collection has been renewed by updating the enterprise and commodity sample and by introducing the web scraped price list of hardware stores and scanner data as new data sources.