Construction Cost Index increased by 4.8%
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“The Construction Cost Index in Georgia increased by 4.8 percent in the fourth quarter of 2021 compared to the same period of the previous year,” - the National Statistics Office of Georgia (Geostat) announced on Thursday.
According to the National Statistics Office of Georgia, the mentioned change was mainly due to a 10.2 percent increase in the average monthly nominal wage of employees hired in the construction sector, which contributed 2.8 percentage points to the alternations in the total index.
Simultaneously, according to Geostat, the Construction Cost Index increased by 13.6 percent compared to the same quarter last year. The increase in the index was mainly due to the 17.4 percent overpricing for construction materials, which was reflected in the change in the overall index by 9.64 percentage points.
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16/05/2025
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