The Construction Cost Index (CCI) decreased by 1.6% in the first quarter of 2021 compared to the previous quarter, the National Statistics Office of Georgia (Geostat) reported.
The change was mainly due to a 19.7% decrease in average monthly nominal wages of employees in the construction sector, which contributed -6.05% to the total index change.
Compared to the first quarter of 2020 the CCI increased by 8.7%.
The latter was largely caused by the 15.9% increase in the prices for construction materials, which contributed 9.16% to the annual index change. (Trend/Business World Magazine)