GOESTAT publishes report on producer price index for industrial products in Georgia

National Statistics Office of Georgia (GEOSTAT) published a report on the Producer Price Index for industrial products in Georgia in December 2019.

According to the report, the Producer Price Index for Industrial Products decreased by 0.5 percent compared to November 2019, while compared to the corresponding month of the preceding year, the index growth amounted to 7.8 percent.

As the report reads, the prices for manufactured products decreased by 0.5 percent compared to the previous month, resulting in a -0.43-percentage point contribution to the overall monthly PPI change. Within the group, a noteworthy price decrease was registered for basic metals and fabricated metal products (-2.1 percent).

For electrical energy, gas, steam and hot water prices went down by 0.8 percent, contributing -0.09 percentage points to the overall monthly index change.

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

Manufactured products: the prices increased by 8.0 percent, contributing 6.51 percentage points to the overall annual index growth. There was an increase in the prices for food products, beverages and tobacco (9.4 percent), also for pulp, paper and paper products (37.0 percent);

Products from mining and quarrying: the prices increased by 17.3 percent, contributing 1.11 percentage points to the overall annual index growth;

Electrical energy, gas, steam and hot water: the prices went up by 1.7 percent and contributed 0.2 percentage points to the overall annual PPI change.

Compared to December 2018 the DPPI increased by 6.6 percent. There was an increase in the prices for manufactured products (7.8 percent), electrical energy, gas, stream and hot water (1.7 percent) and also, for products from mining and quarrying (4.1 percent).

The Export Price Index (XPI) decreased by 0.5 percent compared to the previous month. There was a 0.6 percent decrease in the prices for manufactured products.

Compared to December 2018 the XPI increased by 11.1 percent. In the mentioned period the prices were higher for manufactured products by 8.4 percent and for products from mining and quarrying by 31.1 percent.

Also, the Import Price Index (MPI) decreased by 2.4 percent over the previous month, while compared to December 2018 the Index increased by 8.6 percent.

Compared to December 2018 the prices were 8.7 percent higher for manufactured products, while for products from mining and quarrying a price increase of 9.3 percent was registered. Concerning electrical energy, gas, steam, and hot water, the prices were 8.1 percent lower.

National Statistics Office of Georgia, the legal entity of public law, carries out its activities independently. It is an institution established to produce the statistics and disseminate statistical information according to the Georgian legislation. The National Statistics Office of Georgia is established by the Law of Georgia, dd 11 December 2009, on Official Statistics.