In August 2023 the Construction Cost Index (CCI) increased by 1% compared to the previous month,- according to the preliminary data from the National Statistics Of Georgia (Geostat).
According to the document, the change was mainly due to a 1.6% increase in the average monthly nominal wages of employees in the construction sector, which contributed 0.6 percentage points to the total index change.
Compared to February 2022 the CCI increased by 10.9%. The latter was largely caused by the 28.1% increase in average monthly nominal wages of employees in the construction sector and by the 6.2% increase in the prices of construction materials, which contributed 6.45 and 3.46 percentage points to the total index change, respectively.
