In September 2024, the construction cost index in Georgia decreased by 0.4% compared to the previous month, while, compared to the same period of the previous year, it increased by 5.8%.

According to the data published by the National Statistics Office of Georgia (GEOSTAT), the reason for the monthly decrease in September was mainly due to the 4.2 percent decline in the average monthly nominal salary of the employees hired in the construction industry, which contributed -0.64 percentage points to the total index change.

As for the data of the previous year compared to the corresponding month, the index growth was, for the most part, caused by the 20.3 percent increase in the average monthly nominal salary of the employees hired in the construction industry and the 4.1 percent increase in the price of construction materials, which contributed 3.14 and 2.47 percentage points to the change of the total index, respectively. In addition, compared to February 2022, the construction cost index increased by 19.2%.