BAKU, Azerbaijan, Sept. 24
Tamilla Mammadova – Trend:
The Construction Cost Index (CCI) increased by 8.2 percent in the second quarter of 2021 compared to the previous quarter in Georgia, Trend reports referring to Georgian National Statistics Office (Geostat).
The change was mainly due to a 20.6 percent increase in average monthly nominal wages of employees in the construction sector, which contributed 5.15 percentage points to the total index change.
Compared to the second quarter of 2020 the CCI increased by 16.8 percent.
The latter was largely caused by the 17.2 percent increase in the prices for construction materials, which contributed 10.08 percentage points to the annual index change.
Meanwhile, the Construction Cost Index decreased by 1.6 percent In the first quarter of 2021 compared to the previous quarter in Georgia. Furthermore compared to the first quarter of 2020 the CCI increased by 8.7 percent.
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