Output Prices Index in Construction (Base year 2000)

Methodological note on the Output Prices Index in Construction
The quarterly Index of Output Prices measures the changes in unit prices charged to clients of construction work. Consequently it shows the change in the overall cost of construction work incurred to the client, including costs coming from the materials used, from labour, energy, transport, etc, as well as the profit of the contractors. The index is based on a sample survey of enterprises active in Construction.
Every quarter, unit prices are collected for a list of basic construction tasks necessary from the start to the completion of a project. These tasks are then grouped accordingly into types of projects. The total output prices index is compiled by aggregating the indices of the different types of construction projects. Aggregation of the tasks uses weights that reflect the cost of each task within each construction project. At the
final level of aggregation, for the total output prices index, the weight used is the value added of each type of construction project in relation to the total. The indices that come out for the different types of construction projects are also used as deflators in the Production Index in Construction (see relevant methodological note in the corresponding Excel file).
The base year for the index is 2000. This means that it shows the changes
in unit prices in relation to their average values in the year 2000. In the base year, the average of the output prices index for the four quarters is set to 100. For example, an index of 112,35 implies that prices have gone up by 12,35% in relation to the average prices of 2000.