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.