In November 2022 the Producer Price Index for Industrial Products decreased by 0.04 percent compared to the previous month, while compared to November 2021 the index growth amounted to 3.6%, - according to the National Statistics Office Of Georgia (Geostat).
"The prices for products from mining and quarrying increased by 2.1% compared to October 2022, resulting in a 0.14 percentage point contribution to the overall monthly PPI change. Within the group a noteworthy price increase was registered for metal ores (2.9%). In the same period the prices for manufactured products increased by 0.04%, contributing 0.03 percentage points to the monthly index change. Within the group a noteworthy price increase was registered for food products (1.4%). At the same time, the prices decreased for electricity, gas, steam and air conditioning by 2.4%, contributing -0.2 percentage points to the monthly index change", - the document reads.
The annual PPI rate was mainly affected by price changes for the following products:
• Products from mining and quarrying: the prices were 17.8%lower, contributing -1.44 percentage points to the overall annual index change. Within the group the prices were lower for the subgroup of metal ores (-25.7%);
• Manufactured products: the prices increased by 6.9%, contributing 5.59 percentage points to the overall annual index growth. There was a notable increase in the prices for the following subgroups: food products (10.3%), chemicals and chemical products (22.9%) and other non-metallic mineral products (13.5%);
• Electricity, gas, steam and air conditioning: the annual price decrease amounted to 5.3%, which contributed -0.49 percentage points to the annual index change;
• Water supply, sewerage, waste management and remediation services: the annual price decrease amounted to 2.9%, which contributed - 0.07 percentage points to the annual index growth.
