Construction Cost Index increases in Georgia
Baku, Azerbaijan, September 23
By Tamilla Mammadova – Trend:
The Construction Cost Index (CCI) increased by 3.6 percent in the second quarter of 2019 compared to the previous quarter in Georgia, Trend reports referring to the Georgian National Statistics Office (Geostat).
The change was mainly due to a 13.9-percent increase in average monthly nominal wages of employees in the construction sector, which contributed 3.63 percentage points to the total index change.
Compared to the second quarter of 2018 the CCI increased by 0.9 percent. The latter was largely caused by the 0.8 percent price increase for construction materials, which resulted in a 0.49 percentage point contribution to the change in the total index.
In the second quarter of 2018 the CCI increased by 4.3 percent compared to the first quarter of 2018.
In the second quarter of 2018 the CCI increased by 1.8 percent compared to the second quarter of 2017. This was mainly attributable to a 7.5 percent price increase for construction materials, with a relevant contribution of 4.01 percentage points to the overall index growth.