SOCIETY

Price Index for Industrial Products increased by 8.7 % y/y in March

21.04.20 12:35


The Producer Price Index for Industrial Products increased by 3.0 percent in March 2020 compared to the previous month, and by 8.7 percent year-on-year, the Georgian National Statistics Office (Geostat) said on Tuesday.

 

According to Geostat, the prices for manufactured products were 2.5 percent higher compared to the previous month, resulting in a 2.05 percentage point contribution to the overall monthly PPI change. Within the group, noteworthy price increases were registered for basic metals (6.9 percent) and beverages (2.5 percent).

 

The annual PPI rate was mainly affected by price changes for the following products: Manufactured products: the prices increased by 8.7 percent, contributing 7.05 percentage points to the overall annual index growth. There was a notable increase in the prices for food products (12.4 percent); Products from mining and quarrying: the prices were 13.7 percent higher, contributing 0.89 percentage points to the overall annual index growth; Electricity, gas, steam and air conditioning: the annual prices increase amounted to 7.4 percent, which contributed 0.78 percentage points on the annual index growth.

 

 

source: IPN

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