In March 2024 the Construction Cost Index (CCI) increased by 1% compared to the previous month. The change was mainly due to a 5.9 percent increase in average monthly nominal wages of employees in the construction sector, which contributed 0.84 percentage points to the
total index change, - according to the preliminary data from the National Statistics Office of Georgia (Geostat).
As of the document, compared to March 2023 the CCI increased by 9.1 percent. The latter was largely caused by the 35.3 percent increase in average monthly nominal wages of employees in the construction sector and by the 3.4 percent increase in the prices of construction materials, which contributed 6.65 and 1.99 percentage points to the total index change, respectively.
Along with this, the Construction Cost Index posted a 16.2 percent increase compared to February 2022.
