In August 2024 the Construction Cost Index (CCI) increased by 1.1 percent compared to the
previous month, - according to the preliminary data from the National Statistics Office of Georgia (Geostat).
As of the document, the change was mainly due to a 1.0 percent increase in the prices for construction materials, which contributed 0.59 percentage points to the total index change.
Compared to August 2023 the CCI increased by 7.9 percent. The latter was largely caused by the
29.7 percent increase in average monthly nominal wages of employees in the construction sector
and by the 3.8 percent increase in the prices for construction materials, which contributed 4.59 and
2.29 percentage points to the total index change, respectively. Along with this, the Construction Cost Index posted a 19.7 percent increase compared to February 2022.
