RTTNews - Friday, a report by Statistics Finland said the building costs fell 1.2% year-on-year in May, mainly due to lower prices for materials and other inputs.

During the month, material prices dropped 2.4% on an annual basis, while other input prices fell 5.4%. However, labor costs were up 3.1%.

Month-on-month, building costs slipped 0.2% in May, reflecting a fall in prices of all three sub groups. Price of labor and other input dropped 0.3% each, while price of materials was down 0.1%.

In May, building costs were down for all types of buildings, on an annual basis. However, on a monthly basis, building costs decreased for most types of buildings, with the exception of office and commercial buildings.

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