In December 2023 the Construction Cost Index (CCI) increased by 3.5 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 17.4% increase in average monthly nominal wages of employees in the construction sector, which contributed 3.57 percentage points to the total index change.
Compared to February 2022 the CCI increased by 17.3%. The latter was largely caused by the 52% increase in average monthly nominal wages of employees in the construction sector and by the 7.5% increase in the prices of construction materials, which contributed 10.7 and 4.29 percentage points to the total index change, respectively.
