In November 2023 the Construction Cost Index (CCI) increased by 0.8 percent compared to the previous month, - according to the preliminary data from theGeorgia’s National Statistics Office (GeoStat).
As of the document, the change was mainly due to a 2.6% increase in average monthly nominal wages of employees in the construction sector, which contributed 0.66 percentage points to the total index change.
Compared to February 2022 the CCI increased by 13.3 percent. The latter was largely caused by the 29.5 per cent increase in average monthly nominal wages of employees in the construction sector and by the 7.6 per cent increase in construction materials prices, which contributed 6.65 and 4.35 percentage points to the total index change, respectively, the GeoStat went on.
