In April 2024 the Construction Cost Index (CCI) increased by 0.6% compared to the previous month. The change was mainly due to a 0.5% increase in the prices for construction materials, which contributed 0.28 percentage points to the total index change, - according to the preliminary data from the National Statistics Office of Georgia (Geostat).
Compared to April 2023 the CCI increased by 10.8%. The latter was largely caused by the 37% increase in average monthly nominal wages of employees in the construction sector and by the 4.5 % increase in the prices of construction materials, which contributed 7.21 and 2.72 percentage points to the total index change, respectively. Along with this, the Construction Cost Index posted a 16.9% increase compared to February 2022.
