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Geostat reveals rate of Producer Price Index in Georgia

Business Materials 19 February 2021 17:23 (UTC +04:00)
Geostat reveals rate of Producer Price Index in Georgia

BAKU, Azerbaijan, Feb.19

By Tamilla Mammadova – Trend:

The Producer Price Index (PPI) for Industrial Products increased by 2.8 percent in January 2021 compared to the previous month, while compared to January 2020 the index growth amounted to 15.6 percent, Trend reports via the National Statistics Office of Georgia (Geostat).

The prices for manufactured products increased by 2.5 percent compared to December 2020, resulting in a 1.96 percentage point contribution to the overall monthly PPI change.

Within the group noteworthy price increases were registered for beverages (3.1 percent) and basic metals (9.4 percent). In the same period the prices for electricity, gas, steam and air conditioning increased by 15.2 percent contributing 1.64 percentage points to the monthly index change.

The prices decreased for products from mining and quarrying by 13 percent, contributing -0.95 percentage points to the monthly index change.

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

• Manufactured products: the prices increased by 14.9 percent, contributing 12.05 percentage points to the overall annual index growth. There was a notable increase in the prices for the following subgroups: food products (14.9 percent), beverages (9.1 percent) and basic metals (30.9 percent);

• Electricity, gas, steam and air conditioning: the annual price increase amounted to 20.9 percent, which contributed 2.34 percentage points on the annual index growth;

• Water supply; sewerage, waste management and remediation services: the annual price increase amounted to 27.8 percent, which contributed 0.82 percentage points on the annual index growth;

• Products from mining and quarrying: the prices were 10.1 percent higher, contributing 0.41 percentage points to the overall annual index change. Within the group the prices were higher for metal ores (13.6 percent).

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