In the second quarter of 2022 the Construction Cost Index (CCI) increased by 7.2 percent compared to the previous quarter. The change was mainly due to a 16.4 percent increase in average monthly nominal wages of employees in the construction sector, which contributed 4.36 percentage points to the total index change.
Compared to the second quarter of 2021 the CCI increased by 11.7 percent. The latter was largely caused by the 11.8 percent increase in the prices for construction materials, which contributed 6.74 percentage points to the annual index change.
The following table shows the CCI for the second quarter of 2022, compared to the previous quarter and the corresponding quarter of the preceding year, as well as the contributions of cost categories to the total index.