Construction Cost Index in Georgia

Construction Cost Index in Georgia

Construction Cost Index in Georgia

The FINANCIAL -- In the second quarter of 2018 the Construction Cost Index (CCI) increased by 4.3 percent compared
to the previous quarter.

This was mainly caused by a 13.9 percent increase in average monthly nominal salary of employees in business sector in construction, which resulted in a 3.53 percentage point contribution to the total index change. In the mentioned period prices increased by 1.3 percent for construction materials and by 0.5 percent for transportation, fuel and electricity.

Compared to the second quarter of 2017 the CCI increased by 1.8 percent. 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. In the same period a decrease of 8.1 percent was registered in average monthly nominal salary of employees in business sector in construction, with a relevant contribution of -2.4 percentage points to the overall index change.

The following table shows the CCI for the second quarter of 2018, compared to the previous quarter and the same quarter of the previous year, as well as the contributions of cost categories to the total index.