GeoStat publishes Construction Cost Index for January

15:17, 07.03.2024

In January 2024 the Construction Cost Index (CCI) decreased by 4.4 percent compared to the previous month, the National Statistics Service (GeoStat) reported.

The change was mainly due to a 22.9 percent decrease in the average monthly nominal wages of employees in the construction sector, which contributed -4.7 percentage points to the total index change.

Compared to January 2023 the CCI increased by 6.2 percent. The latter was largely caused by the 18.7 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 4.42 and 1.94 percentage points to the total index change, respectively.

Along with this, the Construction Cost Index posted a 12.2 percent increase compared to February 2022.

Economics