In November 2021 the Producer Price Index for Industrial Products increased by 1.9% compared to the previous month, while compared to November 2020 the index growth amounted to 17.2%, - show the preliminary data from the National Statistics Office of Georgia (Geostat).
According to the report, the prices for products from mining and quarrying increased by 0.3% compared to October 2021, resulting in a 0.02 percentage point contribution to the overall monthly PPI change. In the same period the prices for manufactured products increased by 2.7%, contributing 2.21 percentage points to the monthly index change. Within the group a noteworthy price increase was registered for chemicals and chemical products (39.2%). Besides, the prices decreased for electricity, gas, steam and air conditioning by 2.8%, contributing -0.3 percentage points to the monthly index change.
The annual PPI rate was mainly affected by price changes for the following products:
• Products from mining and quarrying: the prices were 1.3 percent lower, contributing -0.14 percentage points to the overall annual index change. Within the group the prices were lower for the subgroup of metal ores (-11.1%);
• Manufactured products: the prices increased by 20.7 percent, contributing 16.32 percentage points to the overall annual index growth. There was a notable increase in the prices for the following subgroups: food products (16.2%), chemicals and chemical products (80.7%)
and basic metals (62.6%;
• Electricity, gas, steam and air conditioning: the annual price increase amounted to 7.0%, which contributed 0.84 percentage points to the annual index growth;
• Water supply, sewerage, waste management and remediation services: the annual price increase amounted to 6.1%, which contributed 0.18 percentage points to the annual index growth.
