Home > Statistics > Building cost index > 2021 > August > Costs of building materials continued to rise strongly in August

Published: 15 September 2021

Costs of building materials continued to rise strongly in August

According to Statistics Finland, building costs rose by 8.7 per cent in August 2021 compared with the previous year. The costs of materials went up by 11.8 per cent and labour costs by 6.3 per cent from one year ago. The prices of services rose by 1.6 per cent.

Long term development of the Building Cost Index

The costs of building materials are still pushed up particularly by timber, the price of which has grown for several months and continued to rise strongly still in August. The price of timber rose by 5.2 per cent in the month. The prices of steel structures have also gone up strongly, by 7.3 per cent in August from the month before.

From July to August, the total index of building costs rose by 2.2 per cent. The prices of materials went up by 2.9 per cent and labour costs by 1.8 per cent from the month before. The prices of services remained unchanged from the previous month.

Building cost index 2015=100, August 2021

Professional construction of new buildings		Weights	Index	Monthly change, %	Annual change, %
Total index		1000	112.1	2.2	8.7
By type of cost	Labour inputs	400	107.4	1.8	6.3
	Materials	510	117.2	2.9	11.8
	Services	90	104.0	0.0	1.6
By purpose of use	Residential building	440	112.8	2.2	9.4
	Other building construction	560	111.5	2.2	8.2

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

Publication in pdf-format (293.9 kB)

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Appendix tables

• Appendix table 1. Input indices 2015=100, August 2021 (15.9.2021)
• Appendix table 2. Residential building 2015=100, August 2021 (15.9.2021)

Figures

• Appendix figure 1. Input indices 2015=100, largest annual changes, per cent (15.9.2021)
• Appendix figure 2. Index clause sub-indices P 2000=100 (15.9.2021)

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Updated 15.09.2021