In January 2023 the Construction Cost Index (CCI) decreased by 5.2% 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 23.4% decrease in average monthly nominal wages of employees in the construction sector, which contributed -4.8 percentage points to the total index change.
Compared to February 2022 the CCI increased by 5.7%. The latter was largely caused by the 4.8% increase in the prices for construction materials, which contributed 2.73 percentage points to the total index change.
