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Producer Price Index for Industrial Products up in Georgia

Business Materials 20 April 2021 16:48 (UTC +04:00)
Producer Price Index for Industrial Products up in Georgia

BAKU, Azerbaijan, April 20

By Tamilla Mammadova – Trend:

The Producer Price Index (PPI) for Industrial Products increased by 1.8 percent in March 2021 compared to the previous month in Georgia, while compared to March 2020 the index growth amounted to 15.5 percent, Trend reports referring to Georgian National Statistics Office (Geostat).

The prices for manufactured products increased by 1.9 percent compared to February 2021, resulting in a 1.52 percentage point contribution to the overall monthly PPI change.

Within the group, noteworthy price increases were registered for food products (1.7 percent) and basic metals (2.7 percent). In the same period, the prices for electricity, gas, steam, and air conditioning increased by 2.3 percent, contributing 0.28 percentage points to the monthly index change.

The prices decreased for products from mining and quarrying by 0.1 percent, contributing -0.01 percentage points to the monthly index change.

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

⦁ Manufactured products: the prices increased by 15.5 percent, contributing 12.41 percentage points to the overall annual index growth. There was a notable increase in the prices for the following subgroups: food products (15.6 percent), beverages (9.4 percent), and basic metals (25.4 percent);

⦁ Electricity, gas, steam, and air conditioning: the annual price increase amounted to 14.1 percent, which contributed 1.79 percentage points to the annual index growth;

⦁ Water supply, sewerage, waste management, and remediation services: the annual price increase amounted to 26.7 percent, which contributed 0.77 percentage points to the annual index growth;

⦁ Products from mining and quarrying: the prices were 11.7 percent higher, contributing 0.52 percentage points to the overall annual index change. Within the group, the prices were higher for metal ores (9.7 percent).

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