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Geostat unveils Georgian Producer Price Index for industrial products

Business Materials 22 June 2021 18:43 (UTC +04:00)
Geostat unveils Georgian Producer Price Index for industrial products

BAKU, Azerbaijan, June 22

By Tamilla Mammadova – Trend:

The Producer Price Index (PPI) for industrial products in Georgia decreased by 0.2 percent in May 2021 compared to the previous month, Trend reports via the National Statistics Office (Geostat).

The prices for electricity, gas, steam and air conditioning decreased by 7.2 percent compared to April 2021, resulting in a -0.86 percentage point contribution to the overall monthly PPI change. In the same period the prices for products from mining and quarrying increased by 3.8 percent, contributing 0.24 percentage points to the monthly index change.

Within the group noteworthy price increase was registered for metal ores (3.9 percent). The prices increased also for manufactured products by 0.5 percent, contributing 0.38 percentage points to the monthly index change.

Compared to May 2020 the index growth amounted to 15.5 percent.

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

• Products from mining and quarrying: the prices were 9.8 percent higher, contributing 0.56 percentage points to the overall annual index change. Within the group the prices were higher for the subgroup of crude petroleum and natural gas (150.4 percent);

• Manufactured products: the prices increased by 15.5 percent, contributing 12.47 percentage points to the overall annual index growth. There was a notable increase in the prices for the following subgroups: food products (17.2 percent), beverages (5.3 percent) and basic metals (31.8 percent);

• Electricity, gas, steam and air conditioning: the annual price increase amounted to 16.1 percent, which contributed 1.68 percentage points to the annual index growth;

• Water supply, sewerage, waste management and remediation services: the annual price increase amounted to 30.1 percent, which contributed 0.82 percentage points to the annual index growth.

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