In July 2024 the Construction Cost Index (CCI) increased by 0.9% compared to the previous month. The change was mainly due to a 5.4% increase in average monthly nominal wages of employees in the construction sector, which contributed 1.06 percentage points to the total index change, - according to the preliminary data from the National Statistics Office of Georgia (Geostat).
As of the document, compared to July 2023 the CCI increased by 7.8%.The latter was largely caused by the 24.5% increase in average monthly nominal wages of employees in the construction sector and by the 3.3% 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.
