Cost of construction index across Georgia down by 0.4% in September amid 4.2% decline in sector wages

The cost of construction index across Georgia decreased by 0.4 percent in September compared to the preceding month due to a 4.2 percent drop in the average monthly nominal wages within the sector, the National Statistics Office said on Wednesday.

The statistics body said the decrease in average monthly nominal wages contributed -0.64 percentage points to the total index change.

The index increased by 5.8 percent compared to September 2023, influenced by a 20.3 percent increase in average monthly nominal wages of employees in the sector and by the 4.1 percent increase in the prices of construction materials, which contributed 3.14 and 2.47 percentage points to the total index change, respectively.

The Office also said the index posted a 19.2 percent increase compared to February 2022.