Cost index

The cost index describes cost changes caused to entrepreneurs from acquisition of inputs for a contract or an assignment.

Costs are accrued by own labour input and various products and services bought. Cost indices are sometimes also referred to as input indices.

The cost index describes changes in prices of cost factors relative to the selected base year. Cost indices are calculated with a method where different cost factors are weighted together by their proportions of total costs. The Laspeyres calculation index formula is used in the calculation, whereby the weights are from the base year.

Statistics Finland produces cost indices for building construction and civil engineering, earth movers and forest machinery, rail, taxi and ambulance transport.