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Georgia sees increase in Producer Price Index

05 July 2020 [10:34] - TODAY.AZ

By Trend

In May 2020, the Producer Price Index (PPI) for Industrial Products increased in Georgia by 1.4 percent compared to the previous month, Trend reports with reference to National Statistics Office (Geostat).

The prices for manufactured products were 1.6 percent higher compared to the previous month, resulting in a 1.27-percentage point contribution to the overall monthly PPI change.

Within the group noteworthy price increases were registered for beverages (1.5 percent), chemicals and chemical products (7.3 percent) and basic metals (5.1 percent), said the report.

Meanwhile, in May 2020, the index growth amounted to 12.7 percent compared to May 2019.

The annual PPI rate was mainly affected by price changes for the manufactured products: the prices increased by 11.6 percent, contributing 9.62 percentage points to the overall annual index growth.

There was a notable increase in the prices for the food products (13.3 percent), beverages (10.2 percent) and basic metals (12 percent), said Geostat.

The prices for products from mining and quarrying were 29.7 percent higher, contributing 1.73 percentage points to the overall annual index growth.

The annual price increase on electricity, gas, steam and air conditioning amounted to 15.4 percent, which contributed 1.35 percentage points to the annual index growth.


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