PPI for industrial products increases in Georgia
BAKU, Azerbaijan, Nov. 15
By Tamilla Mammadova – Trend:
The Producer Price Index (PPI) for industrial products increased by 0.05 percent in August 2020 in Georgia compared to the previous month, Trend reports referring to the National Statistics Office of Georgia (Geostat).
The prices for manufactured products decreased by 0.4 percent compared to July 2020, resulting in a -0.33 percentage point contribution to the overall monthly PPI change.
Within the group noteworthy price decrease was registered for basic metals (-4.9 percent). In the same period the prices increased for electricity, gas, steam and air conditioning by 3.3 percent, contributing 0.31 percentage points to the monthly index change.
In August 2020, compared to August 2019 the index growth amounted to 4.9 percent.
The annual PPI rate was mainly affected by price changes for the manufactured products: the prices increased by 4.7 percent, contributing 3.81 percentage points to the overall annual index growth. There was a notable increase in the prices for the food products (6.7 percent), beverages (5 percent) and other non-metallic mineral products (7.3 percent).
The prices on products from mining and quarrying were 19.6 percent higher, contributing 1.07 percentage points to the overall annual index change. Within the group the prices were higher for metal ores (28.3 percent).
The annual increase price on electricity, gas, steam and air conditioning: amounted to 0.4 percent, which contributed 0.03 percentage points on the annual index growth.
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