BAKU, Azerbaijan, August 9. The construction cost index in Georgia decreased by 0.1 percent in June 2023 compared to May 2023, Trend reports.
According to the National "Sakstat" Statistics Service of Georgia, the monthly construction cost index, which reflects the average price level for construction materials and services required for the construction of various types of buildings, decreased over the month mainly due to a decrease in the cost of machinery and equipment by 0.6 percent, as well as a decrease in transportation prices, fuel, and electricity by 1.2 percent.
The construction cost index increased by 8 percent in June 2023 in comparison with February 2022. This growth was due to an increase in wages of 18.6 percent and an increase in prices for building materials of 5.3 percent.
The construction cost index is an important macroeconomic indicator that serves to assess the investment situation in the country as well as for planning and decision-making in the construction sector.