GeoStat: Construction Cost Index increased by 1.6% In July

11:45, 06.09.2023

In July 2023 the Construction Cost Index (CCI) increased by 1.6% compared to the previous month, the National Statistic Service (GeoStat) reported.

The change was mainly due to a 6.3% increase in the average monthly nominal wages of employees in the construction sector, which contributed 1.28 percentage points to the total index change.

According to Geostat, compared to February 2022 the CCI increased by 9.7 percent. The latter was largely caused by the 26.1% increase in average monthly nominal wages of employees in the construction sector and by the 5.7% increase in the prices of construction materials, which contributed 5.79 and 3.17 percentage points to the total index change, respectively.

By - Tamar Tabatadze

Economics

Construction Cost Index

Геостaт