Definition: Construction costs (Index)
It is the objective of the construction cost index to show the development of costs incurred by the contractor to carry out the construction process.
The component costs index (material costs and labour costs) shows the price developments of production factors used in the construction industry.
The construction cost index is calculated as: See Commission Regulation
Costs that constitute components of the construction costs are also plant and equipment, transport, energy and other costs. Architect’s fees are not part of the construction costs.
European Union, Commission Regulation (EC) No 1503/2006 of 28 September 2006 implementing and amending Council Regulation (EC) No 1165/98 concerning short-term statistics as regards definitions of variables, list of variables and frequency of data compilation