Producer Price Index for Industrial Products in Georgia

The FINANCIAL — In August 2018 the Producer Price Index (PPI) for Industrial Products increased by 1.7 percent over July 2018, while the index increased by 6.6 percent compared to August 2017. Prices for manufactured products increased by 2.1 percent compared to the previous month, re- sulting in a 1.68 percentage point contribution to the overall monthly PPI change. There was an increase in prices for food products, beverages and tobacco (1.1 percent), basic metals and fabri- cated metal products (7.8 percent), also for chemicals, chemical products and man-made fibers (6.3 percent). Prices remained unchanged for the group of products from mining and quarrying. The annual PPI rate was mainly affected by price changes for the following products: Manufactured products: prices increased by 5.8 percent, contributing 4.72 percentage points to the overall annual index growth. There was an increase in prices for food products, beverages and tobacco (5.4 percent), also for basic metals and fabricated metal products (9.8 percent); Electrical energy, gas, steam and hot water: prices increased by 14.1 percent and contributed 1.91 percentage points to the overall PPI change. The following table presents the Producer Price Index over July 2018 and August 2017, with the relevant contributions of the products to the changes in the overall index.