Prices of industrial products in Georgia up 6.8% y/y in June

Prices of industrial products in Georgia up 6.8% y/y in June
/ Geostat
By bne IntelliNews July 22, 2018

Georgia’s Producer Price Index (PPI) for industrial products grew 6.8% y/y in June, despite falling 1.1% compared to the previous month, said statistics office Geostat. 

Manufacturing prices were the biggest contributor to the annual rise in the PPI, growing by 5.1% y/y and pushing the index up by 4.22 percentage points (pp). 

This included a 13.5% rise in prices for basic metals and fabricated metal products. Food products, an important segment within the manufacturing category, were up by 3.6%. 

Meanwhile, electrical energy, gas, steam and hot water prices soared by 14.6%, contributing 1.97 pp to the rise in the PPI. 

In monthly terms, prices for manufactured products were down by 1.3% compared to May, dragging down the PPI by 1.03 pp. 

Within the category, prices for food products, beverages and tobacco dropped 1.5%, basic metals and fabricated metal products were down 4.1% and prices of other non-metallic mineral products fell 0.5%. 

Prices for electrical energy, gas, steam and hot water were also down but by a marginal 0.4%, which contributed just -0.06 pp to the overall monthly decline in the index. 

Data

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