In October 2024, the Construction Cost Index (CCI) rose by 0.8 percent compared to the previous month, according to the National Statistics Service (GeoStat).
This increase was primarily driven by a 4.4 percent rise in the average monthly nominal wages for workers in the construction industry, which contributed 0.7 percentage points to the overall change in the index.
When compared to October 2023, the CCI saw a 6.8 percent rise. This was mainly due to a 31.5 percent increase in the average monthly nominal wages for construction workers and a 3.2 percent rise in the cost of construction materials, contributing 5.07 and 1.96 percentage points to the total change, respectively.
Additionally, the CCI registered a 20.1 percent increase compared to February 2022.
