According to the data published by the National Statistics Office of Georgia (GEOSTAT), in September 2023, the construction cost index increased by 1.6 percent compared to the previous month.
The mentioned change was mainly due to the 3.2 percent increase in the average monthly nominal salary of the employees hired in the construction industry, which contributed 0.71 percentage points to the total index change.
In addition, according to the GEOSTAT report, compared to February 2022, the construction cost index increased by 12.6 percent. The increase of the index was mostly caused by the 32.3-percent increase in the average monthly nominal salary of construction workers and the 6.3-percent increase in the price of construction materials, which contributed 7.23 and 3.56 percentage points to the total index change, respectively.
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