Building costs rise 1.1% in February

Building costs rose by 1.1 per cent in February 2021 over the previous 12 months, according to Statistics Finland.

Labour costs went up by 1.2 per cent and the costs of materials by 1.3 per cent.

Employers’ social insurance contributions applied for 2021 are used in the calculation of the index, which explains the growth in labour costs.

The prices of services fell by 0.3 per cent year on year.

From January to February, the total index of building costs rose by 0.2 per cent.

Labour costs went up by 0.3 per cent and the prices of materials rose by 0.2 per cent. The prices of services in February remained on level with January.