Published: 15 July 2021
Rising of prices of building materials continued fast in June
According to Statistics Finland, building costs rose by 4.2 per cent in June 2021 from the previous year. The prices of materials went up by 5.5 per cent and labour costs by 3.5 per cent from the year before. The prices of services remained unchanged from the previous year.
Long term development of the Building Cost Index
![Long term development of the Building Cost Index](rki_2021_06_2021-07-15_tie_001_en_001.png)
Prices rose for nearly all building materials, but the price development of steel products and timber has accelerated particularly for several months already. The exceptional speed of price changes in building materials is indicated by that the monthly change in materials was record high in June, 2.3 per cent. The last time the prices of materials went up sharply was in 2007, when the month-on-month change was 1.5 per cent.
From May to June, the total index of building costs rose by 1.2 per cent and prices of services by 0.1 per cent. The labour costs remained unchanged from the previous month.
Building cost index 2015=100, June 2021
Professional construction of new buildings | Weights | Index | Monthly change, % | Annual change, % | |
Total index | 1000 | 108.0 | 1.2 | 4.2 | |
By type of cost | Labour inputs | 400 | 105.5 | 0.0 | 3.5 |
Materials | 510 | 110.9 | 2.3 | 5.5 | |
Services | 90 | 103.1 | 0.1 | 0.0 | |
By purpose of use | Residential building | 440 | 108.3 | 1.2 | 4.5 |
Other building construction | 560 | 107.8 | 1.1 | 4.0 |
Source: Building cost index, Statistics Finland
Inquiries: Liina Arhosalo 029 551 3612, Merja Järvinen 029 551 2458, info@stat.fi
Head of Department in charge: Hannele Orjala
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Updated 15.07.2021
Official Statistics of Finland (OSF):
Building cost index [e-publication].
ISSN=1799-5841. June 2021. Helsinki: Statistics Finland [referred: 17.8.2024].
Access method: http://www.stat.fi/til/rki/2021/06/rki_2021_06_2021-07-15_tie_001_en.html