The Construction Price Index measures changes in cost for production factors in construction industry including materials of various types, equipment, salaries, transport, etc., that is based on measurements of a number of goods and salaries. The material costs index measures the price development of the main construction materials, and the labour costs index measures the salary for engineers, techniques and workers.
Reference Definition by OECD: The Construction Price Indices provide measures of changes in the prices of either the inputs to, or outputs of, construction activity. However, terminology used in the context of price indices for construction activity varies between countries. There is also considerable variation in the inclusion/exclusion of items such as transport costs, consumption taxes, fittings, etc.
Related Definitions in the Project: The Construction
