How did the prices of industrial products in Georgia change over the year
Prices for the year mainly increased for processing and mining products, as well as food.
The index of producer prices of industrial products in December 2019 increased by 7.8% compared to December 2018, according to the materials Of the national statistics service of Georgia "Sakstat"
The increase in prices in Georgia, including for industrial products, is taking place against the background of the devaluation of the national currency. Over the past six months, the lari has depreciated by about 8% against the dollar. Today, the lari / dollar exchange rate is set at 2.887 GEL/$1.
Inflation in Georgia has stabilized, but economic growth may slow down >>
The formation of the index was mainly influenced by an increase in prices in the processing industry by 8% and in the mining industry by 17.3%.
In December, compared to November, prices for industrial products decreased by 0.5%.
Local production
Prices for industrial products manufactured in Georgia increased by 6.6% in November compared to the same month in 2018.
Most of all, prices rose in the processing industry - by 7.8%, including food - by 9%.
Export and import
The index of producer prices of industrial products for export increased by 11.1% compared to the same month in 2018.
Prices for mining products increased by 31.1%. Prices for exported products of the processing industry increased by 8.4%, including food products - by 10.2%, and metal products-by 10.2%.
Prices for industrial products imported to Georgia increased by 8.6% during the reporting period. At the same time, imported products from the processing industry rose by 8.7%, including food products - by 9.9%.
Consumer price
The annual inflation rate in December was 7% with a target of 3%. Food prices increased by 12.3%. Experts attribute the rise in prices to the depreciation of the national currency. Over the past six months, the lari has depreciated by about 8% against the dollar.
Since September of this year, the national Bank has started to tighten its policy in order to neutralize the inflationary pressure emanating from the depreciation of the exchange rate. As a result, the refinancing rate was increased from 6.5% to 9%.
sputnik-georgia.ru
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How did the prices of industrial products in Georgia change over the year
Prices for the year mainly increased for processing and mining products, as well as food.
The index of producer prices of industrial products in December 2019 increased by 7.8% compared to December 2018, according to the materials Of the national statistics service of Georgia "Sakstat"
The increase in prices in Georgia, including for industrial products, is taking place against the background of the devaluation of the national currency. Over the past six months, the lari has depreciated by about 8% against the dollar. Today, the lari / dollar exchange rate is set at 2.887 GEL/$1.
Inflation in Georgia has stabilized, but economic growth may slow down >>
The formation of the index was mainly influenced by an increase in prices in the processing industry by 8% and in the mining industry by 17.3%.
In December, compared to November, prices for industrial products decreased by 0.5%.
Local production
Prices for industrial products manufactured in Georgia increased by 6.6% in November compared to the same month in 2018.
Most of all, prices rose in the processing industry - by 7.8%, including food - by 9%.
Export and import
The index of producer prices of industrial products for export increased by 11.1% compared to the same month in 2018.
Prices for mining products increased by 31.1%. Prices for exported products of the processing industry increased by 8.4%, including food products - by 10.2%, and metal products-by 10.2%.
Prices for industrial products imported to Georgia increased by 8.6% during the reporting period. At the same time, imported products from the processing industry rose by 8.7%, including food products - by 9.9%.
Consumer price
The annual inflation rate in December was 7% with a target of 3%. Food prices increased by 12.3%. Experts attribute the rise in prices to the depreciation of the national currency. Over the past six months, the lari has depreciated by about 8% against the dollar.
Since September of this year, the national Bank has started to tighten its policy in order to neutralize the inflationary pressure emanating from the depreciation of the exchange rate. As a result, the refinancing rate was increased from 6.5% to 9%.
sputnik-georgia.ru
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