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Wednesday, the Statistics Estonia said in a report that the construction price index dropped 10% year-on-year in the fourth quarter, slower than the 10.5% fall in the third quarter.
The decline in the index was influenced by the decrease in the labor costs, by 17.6%. At the same time, the price indices of building machines and building materials also showed a declining trend.
Compared to the 3rd quarter, the construction price index decreased 0.9% in the fourth quarter.
In 2009, the construction price index dropped 8.5% compared to the average of 2008. The annual average construction price index decreased for the first time since 1995.
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