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Production Price Index Declined by 3.4% in August

In August the production price index decreased by 3.4%, but increased by 0.04% compared to July 2016.

According to Geostat, the national statistics service of Georgia, in August 2016, compared to July 2015, prices in the processing industry sector increased by 0.2% and the sector’s ratio in total index made up 0.19%.

Within the sector, prices increased on food products (including drinks) and tobacco production subcategories (1.9%). At the same time, prices in the subcategory of metallurgical industry and metal finished goods production declined by 5.0%. A 3.1% contraction in prices was recorded in mining industry sector and its ratio in the index indicator made up -0.13%.

In the 12-month period change in prices made main influence on the index formation in the following sections:

  • processing industry: prices declined by 5.7% and the section’s ratio in total index made up -4.72%. Prices declined in metallurgy industry and metal finished goods production (-15.3%) and chemical industry (-18.8%).
  • Production and distribution of electricity, gas and water: prices increased by 12% and consequently, the sector’s ratio in total index change made up 1.57%.