The construction cost index edged down by 0.6 percent in January versus December, it said.
A 3.3 percent decline in wages had the biggest impact on the monthly index. The per-hour cost of construction equipment operation went up by 0.4 percent, and the prices for building materials and products increased by 0.3 percent. Overhead costs rose by 1 percent.
The year-on-year rise was due to the increases of 7.3 percent in wages, of 4.3 percent in the per-hour cost of construction equipment operation and of 3.6 percent in prices for building materials and products. Overhead costs shrank by 0.7 percent in the period.
Year-on-year, non-residential construction costs grew by 3.9 percent, residential construction costs by 3.9 percent, and costs for engineering structures by 4.7 percent.
Month-on-month, non-residential construction costs shrank by 0.5 percent, residential construction costs by 0.9 percent, and costs for engineering structures by 0.6 percent.
