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Geostat reveals volume of inflation rate in Georgia

Business Materials 26 January 2021 12:20
Geostat reveals volume of inflation rate in Georgia

BAKU, Azerbaijan, Jan. 26

By Tamilla Mammadova – Trend:

The Producer Price Index (PPI) for Industrial Products increased by 1.1 percent in December 2020 t compared to the previous month in Georgia, Trend reports citing the Georgian National Statistics Office (Geostat).

The prices for manufactured products increased by 1.4 percent compared to November 2020, resulting in a 1.11 percentage point contribution to the overall monthly PPI change.

Within the group, noteworthy price increases were registered for food products (3.3 percent) and basic metals products (2.9 percent). In the same period, the prices for electricity, gas, steam, and air conditioning decreased by 3.1 percent contributing -0.3 percentage points to the monthly index change.

The prices increased for products from mining and quarrying by 4.7 percent, contributing 0.29 percentage points to the monthly index change.

Compared to December 2019 the index growth amounted to 11.7 percent.

The annual PPI rate was mainly affected by price changes for the following products:

• Manufactured products: the prices increased by 11.5 percent, contributing 9.36 percentage points to the overall annual index growth. There was a notable increase in the prices for the following subgroups: food products (14.6 percent), beverages (6 percent), and basic metals products (16.9 percent);

• Products from mining and quarrying: the prices were 29 percent higher, contributing 1.58 percentage points to the overall annual index change. Within the group the prices were higher for metal ores (41.1 percent);

• Water supply; sewerage, waste management, and remediation services: the annual price increase amounted to 20.1 percent, which contributed 0.6 percentage points on the annual index growth;

• Electricity, gas, steam, and air conditioning: the annual price increase amounted to 1.9 percent, which contributed 0.2 percentage points to the annual index growth.

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