Georgia sees decrease in Construction Cost Index
BAKU, Azerbaijan, July 27
By Tamilla Mammadova – Trend:
The Construction Cost Index (CCI) decreased by 1.6 percent In the first quarter of 2021 compared to the previous quarter in Georgia, Trend reports via the National Statistics Office of Georgia (Geostat).
The change was mainly due to a 19.7 percent decrease in average monthly nominal wages of employees in the construction sector, which contributed -6.05 percentage points to the total index change.
Compared to the first quarter of 2020 the CCI increased by 8.7 percent.
The latter was largely caused by the 15.9 percent increase in the prices for construction materials, which contributed 9.16 percentage points to the annual index change.
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