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Georgia sees decrease in Producer Price Index for industrial products

Business Materials 2 August 2021 14:41 (UTC +04:00)
Georgia sees decrease in Producer Price Index for industrial products

BAKU, Azerbaijan, August 2

By Tamilla Mammadova – Trend:

Georgia's Producer Price Index (PPI) for Industrial Products decreased by 1.1 percent in June 2021, compared to the previous month, while compared to June 2020 the index growth amounted to 15.7 percent, Trend reports via the Geostat.

The prices for products from mining and quarrying decreased by 5 percent compared to May 2021, resulting in a -0.33 percentage point contribution to the overall monthly PPI change.

In the same period the prices for manufactured products decreased by -0.8 percent, contributing -0.62 percentage points to the monthly index change.

Within the group a noteworthy price decrease was registered for beverages (-4.2 percent). The prices decreased also for electricity, gas, steam and air conditioning by 1 percent, contributing -0.11 percentage points to the monthly index change.

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

- Products from mining and quarrying: the prices were 5.9 percent higher, contributing 0.27 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 12.56 percentage points to the overall annual index growth. There was a notable increase in the prices for the following subgroups: food products (17 percent), printing and recording services (107.8 percent) and basic metals (28.7 percent);

- Electricity, gas, steam and air conditioning: the annual price increase amounted to 20.5 percent, which contributed 2.01 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 0.83 percentage points to the annual index growth.

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