Producer Price Index for Industrial Products in Georgia decreased by 0.1 percent

Producer Price Index for Industrial Products in Georgia decreased by 0.1 percent

Producer Price Index for Industrial Products in Georgia decreased by 0.1 percent

The FINANCIAL -- In April 2018 the Producer Price Index (PPI) for Industrial Products decreased by 0.1 percent over March 2018, while the index increased by 7.8 percent compared to April 2017.

In April prices for manufactured products decreased by 0.1 percent compared to the previous month, which resulted in a -0.06 percentage point contribution to the overall monthly PPI change,according to GeoStat.

There was a decrease in the prices for food products, beverages and tobacco (-1.0 percent), while the prices increased for basic metals and fabricated metal products (2.1 percent).

The prices decreased for the group of electrical energy, gas, steam and hot water (-0.2 percent).

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

• Manufactured products: prices increased by 6.8 percent, contributing 5.52 percentage points to the overall annual index growth. There was an increase in the prices for food products, beverages and tobacco (5.1 percent), also for basic metals and fabricated metal products (19.7 percent);

• Electrical energy, gas, steam and hot water: prices increased by 13.2 percent and contributed 1.84 percentage points to the overall PPI change.