According to the data published by the National Statistics Office of Georgia (GEOSTAT), in October 2023, the construction cost index decreased by 0.2% compared to the previous month.
According to GEOSTAT, the mentioned change was mainly due to the 4.5%-decrease in the average monthly nominal salary of the employees hired in the construction industry, which contributed -1.17 percentage points to the total index change.
"Compared to February 2022, the construction cost index increased by 12.4%, which was mostly caused by a 26.2% increase in the average monthly nominal salary of construction workers and a 7.4% increase in the price of construction materials, which contributed 5.91 and 4.19 percentage points to the change in the total index, respectively," - the statement says.
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One US dollar trades at GEL 2.7415
16/05/2025
