Tbilisi (GBC) - In March 2023 the Construction Cost Index (CCI) increased by 1.7 percent compared to the previous month. The change was mainly due to a 14.8 percent increase in 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.
The following table presents the CCI in March 2023, compared to the previous month and February 2022, as well as the contributions of cost categories to the total index.