BAKU, Azerbaijan, May 31. The producer price index of industrial products decreased by 6 percent in April 2023 compared to April 2022 in Georgia, Trend reports.
According to the report of the National Sakstat Statistics Service of Georgia, this decrease is mainly due to a decrease in prices in the processing industry by 0.9 percent. In particular, food prices decreased by 1.3 percent, and in the mining industry - by 0.5 percent.
Prices for industrial products decreased by 1 percent in April in comparison with the previous month. However, the prices of industrial products intended for the domestic market of Georgia increased by 2 percent compared to April 2022.
The most significant price increases were noted in the mining industry (4.9 percent), the processing industry (3.5 percent) and the food industry (3.2 percent).
The producer price index of industrial products intended for export decreased by 20.1 percent compared to April 2022. Prices for the mining industry fell by 23.8 percent, and prices for exported products of the processing industry decreased by 18.8 percent, including a decrease in prices for beverages by 13.1 percent.
Prices for industrial products imported to Georgia decreased by 24 percent during the reporting period. Imported products of the processing industry fell in price by 24 percent.
According to the latest data, the annual inflation rate in Georgia in April 2023 was 2.7 percent, which was below the established target of 3 percent. Food prices increased by 5.9 percent over the year. However, the inflation rate showed a negative value and amounted to -0.7 percent in April 2023 compared to the previous month.