In December 2023, the construction cost index increased by 3.5 percent compared to the previous month, and compared to February 2022, the construction cost index increased by 17.3 percent.
In December 2023, the change in the construction cost index compared to the previous month, according to GEOSTAT, was mainly caused by a 17.4 percent increase in the average monthly nominal salary of employees hired in the construction industry. And compared to February 2022, the increase in the construction cost index was mainly due to the 52.0 percent increase in the average monthly nominal salary of the employees hired in the construction industry and the 7.5 percent increase in the price of construction materials.
By Mariam Mtivlishvili
