Construction Cost Index increases in Georgia
BAKU, Azerbaijan, Sept.23
By Tamilla Mammadova – Trend:
The Construction Cost Index (CCI) increased by 0.7 percent in the second quarter of 2020 compared to the previous quarter in Georgia, Trend reports citing the National Statistics Office of Georgia (Geostat).
The change was mainly due to a 3.3 percent increase in the prices for construction materials, which contributed 1.91 percentage points to the total index change.
Compared to the second quarter of 2019 the CCI increased by 2.1 percent.
The latter was largely caused by the 6.8 percent increase in the prices for construction materials, which contributed 3.89 percentage points to the annual index change.
Besides, in the same period, the average monthly nominal wages of employees in the construction sector decreased by 8.4 percent, contributing -2.31 percentage points to the overall index change.
Follow the author on Twitter: @Mila61979356