Construction Cost Index rises by 0.9% in June

11:44, 06.09.2024

In July 2024 the Construction Cost Index (CCI) increased by 0.9 percent compared to the previous month, the National Statistics Service (GeoStat) reported.

The change was mainly due to a 5.4 percent increase in average monthly nominal wages of employees in the construction sector, which contributed 1.06 percentage points to the total index change.

Compared to July 2023 the CCI increased by 7.8 percent. The latter was largely caused by the 24.5 percent increase in average monthly nominal wages of employees in the construction sector and by the 3.3 percent increase in the prices of construction materials, which contributed 4.65 and 1.95 percentage points to the total index change, respectively. Along with this, the Construction Cost Index posted an 18.3 percent increase compared to February 2022.

By - Tamar Tabatadze

Economics

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Construction Cost Index

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