In July 2023 the Construction Cost Index (CCI) increased by 1.6 percent compared to the previous month. The change was mainly due to a 6.3% increase in average monthly nominal wages of employees in the construction sector, which contributed 1.28 percentage points to the total index change.
Compared to February 2022 the CCI increased by 9.7 percent. The latter was largely caused by the 26.1 percent increase in average monthly nominal wages of employees in the construction sector and by the 5.7 percent increase in the prices of construction materials, which contributed 5.79 and 3.17 percentage points to the total index change, respectively.
