The National Statistics Service (Geostat) published the CCI, the Construction Cost Index, revealing an increase of 0.8% in October 2024.
The most important factors contributing to this increase are as follows:
- A 4.4% rise in average monthly nominal wages in the construction sector, which added 0.7 percentage points to the overall CCI change.
Compared to the same period last year, the CCI rose by 6.8% year-over-year, with the driving forces being:
- A 31.5% rise in construction sector wages, contributing 5.07 percentage points.
- A 3.2% increase in construction material prices, contributed 1.96 percentage points.
The CCI has also increased significantly compared to February 2022, illustrating a continuous positive trend in construction expenses.
