Construction price index increased 1stQ

According to Statistics Estonia, the percentage change of the construction price index was 0.4% in the 1st quarter of 2012 compared to the previous quarter, and 5.0% compared to the 1st quarter of 2011.

In the 1st quarter compared to the same quarter of the previous year, the construction price index was primarily influenced by more expensive building materials and by the increase in the labour costs, which gave correspondingly more than a half and over a third of the total increase of the index.

In the 1st quarter compared to the previous quarter, the labour costs decreased by 3.3%, costs on building machines increased by 2.2% and on building materials by 1.7%.

In the 1st quarter of 2012, the percentage change of the repair and reconstruction work price index was 0.1% compared to the 4th quarter of 2011 and 5.8 % compared to the 1st quarter of 2011.

The calculation of the construction price index covers four groups of buildings – detached houses, blocks of flats, industrial buildings and office buildings, as well as office buildings covered by the repair and reconstruction work price index. The construction price index expresses the change in the expenditures on construction taking into consideration the price changes of basic inputs: labour force, building materials and building machines.

Change in the construction price index, 1st quarter 2012
  4th Q 2011 –
1st Q 2012, %
1st Q 2011 –
1st Q 2012, %
TOTAL 0.4 5.0
labour force -3.3 6.8
building machines 2.2 8.1
building materials 1.7 4.0
Index of detached houses -0.1 5.1
Index of blocks of flats 0.3 5.0
Index of industrial buildings 1.0 5.7
Index of office buildings 0.2 4.5

 

Change in the repair and reconstruction work price index, 1st quarter 2012
  4th Q 2011 –
1st Q 2012, %
1st Q 2011 –
1st Q 2012, %
TOTAL 0.1 5.8
labour force -3.7 6.9
building machines 7.5 14.0
building materials 1.5 4.6
 
Source: Statistics Estonia

Producer price indices increased in March

According to Statistics Estonia, in March 2012 the producer price index of industrial output increased by 0.2% compared to February and by 3.2% compared to March of the previous year.

In March compared to the previous month, the producer price index was more than average influenced by the increase in prices in the production of refined petroleum products, chemicals and chemical products and furniture and by the decrease in prices in the production of computer and electronic products.

Compared to March 2011, the index was more than average influenced by the increase in prices in the manufacture of food products and heat energy and by the decrease in prices in the production of electrical equipment.

Change in the producer price index of industrial output by economic activity, March 2012
Economic activity according

 to EMTAK 2008

Feb’12 –
Mar’12, %
Mar’11 –
Mar’12, %
TOTAL 0.2 3.2
Manufacturing 0.1 2.9
Mining 0.0 1.1
Electricity, gas, steam and air conditioning supply 0.6 7.2
Water supply; sewerage; waste management and remediation activities 0.0 2.6

In March 2012 the export price index changed by 0.1% compared to February 2012 and by 3.0% compared to March 2011.

In March compared to the previous month, the prices of food products and petroleum products increased more than average, and the prices of agricultural products and electronic equipment decreased more than average.

In March 2012 the import price index changed by 1.2% compared to February 2012 and by 6.1% compared to March 2011.

In March compared to the previous month, the prices of mineral fuels, chemical and food products increased more than average and the prices of building materials and agricultural products decreased more than average.

Source: Statistics Estonia

Tallinn Airport to build new cheap flights terminal

The Estonian state-owned Tallinn Airport will next year will build an easily removable and extendable terminal for cheap flight airlines with parking space for five aircraft next to it.

Erik Sakkov, board member of Tallinn Airport, told reporters at a press conference on Thursday that the new terminal was intended for cheap flights airlines such as Ryanair, Easyjet and Norwegian that do not want to pay that much to the airport and do not need many airport services.

Sakkov said that the present airport building had been intended for the service of up to 2.5 million passengers a year and this year the airport forecasts about 2.3 million visits, of which 200,000 are transit passengers. But the visitors will not be distributed equally during the day and at certain times there is too little room in the terminal already now.

The new terminal is intended for the service of one million passengers and the space liberated from cheap flight airlines would pass into the disposition of Estonian Air and other traditional airlines, such as Lufthansa, SAS, LOT and CSA.

Source: Estonian Review