Construction became more expensive - compared to February 2022, the construction cost index increased by 10.9%

In August 2023, the construction cost index increased by 1 percent compared to the previous month. Information about this is distributed by the National Statistics Service.

According to their reports, the mentioned change was mainly due to the 1.6 percent increase in the average monthly nominal salary of the hired employees in the construction industry, which contributed 0.6 percentage points to the change in the total index.

Compared to February 2022, the construction cost index increased by 10.9 percent. The increase of the index was mainly caused by the 28.1 percent increase in the average monthly nominal salary of the construction workers and the 6.2 percent increase in the price of construction materials, which contributed 6.45 and 3.46 percentage points to the total index change, respectively.