In March 2023 the Construction Cost Index (CCI) increased by 1.7 percent compared to the previous month, - according to the preliminary data from the National Statistics Office of Georgia (Geostat).
According to the document, the change was mainly due to a 14.8 percent increase in the average monthly nominal wages of employees in the construction sector, which contributed 2.55 percentage points to the
total index change.
Compared to February 2022 the CCI increased by 6.6 percent. The latter was largely caused by the 4.8 percent increase in the prices for construction materials, which contributed 2.69 percentage points to the total index change.
