In September 2024 the Construction Cost Index (CCI) decreased by 0.4% compared to the previous month, - according to the preliminary data published by the National Statistics Office of Georgia (Geostat).
As of the document, the change was mainly due to a 4.2% decrease in average monthly nominal wages of employees in the construction sector, which contributed -0.64 percentage points to the total index change.
Compared to September 2023 the CCI increased by 5.8%. The latter was largely caused by the 20.3% increase in average monthly nominal wages of employees in the construction sector and by the 4.1% increase in the prices of construction materials, which contributed 3.14 and 2.47 percentage points to the total index change, respectively.
Along with this, the Construction Cost Index posted a 19.2% increase compared to February 2022.
