How have prices for industrial products changed in Georgia
Prices for the year mainly increased for products from the processing and mining industries, as well as for food
The producer price index of industrial products in may 2020 increased by 12.7% compared to may 2019, according to the materials of the national statistics service of Georgia "Sakstat" .
The index was mainly influenced by an increase in prices in the processing industry by 11.6%, including food by 13.1%, and mining by 29.7%. In may, compared with April, prices for industrial products increased by 1.4%.
Local production
Prices for industrial products manufactured in Georgia increased in may by 6.3% compared to the same month in 2019.
Prices rose the most in mining-by 11.3% and processing - by 6.9%, including food - by 8.4%.
Export and import
The index of producer prices of industrial products for export in may increased by 19.9% compared to the same month in 2019.
Prices for mining products increased by 50.8%. Prices for exported products of the processing industry increased by 16.8%, including food products - by 23.4%, and metal products - by 20.4%.
Prices for industrial products imported to Georgia increased by 5.4% during the reporting period. At the same time, imported products of the processing industry rose by 4.8%, including food products - by 13.6%.
Consumer price
The annual inflation rate in may was 6.5% with a target of 3%. Food prices increased by 14.7% over the year. Experts attribute the price increase to the crisis caused by the new coronavirus pandemic.
Since September 2019, the national Bank has started to tighten policy in order to neutralize the inflationary pressure coming 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 have prices for industrial products changed in Georgia
Prices for the year mainly increased for products from the processing and mining industries, as well as for food
The producer price index of industrial products in may 2020 increased by 12.7% compared to may 2019, according to the materials of the national statistics service of Georgia "Sakstat" .
The index was mainly influenced by an increase in prices in the processing industry by 11.6%, including food by 13.1%, and mining by 29.7%. In may, compared with April, prices for industrial products increased by 1.4%.
Local production
Prices for industrial products manufactured in Georgia increased in may by 6.3% compared to the same month in 2019.
Prices rose the most in mining-by 11.3% and processing - by 6.9%, including food - by 8.4%.
Export and import
The index of producer prices of industrial products for export in may increased by 19.9% compared to the same month in 2019.
Prices for mining products increased by 50.8%. Prices for exported products of the processing industry increased by 16.8%, including food products - by 23.4%, and metal products - by 20.4%.
Prices for industrial products imported to Georgia increased by 5.4% during the reporting period. At the same time, imported products of the processing industry rose by 4.8%, including food products - by 13.6%.
Consumer price
The annual inflation rate in may was 6.5% with a target of 3%. Food prices increased by 14.7% over the year. Experts attribute the price increase to the crisis caused by the new coronavirus pandemic.
Since September 2019, the national Bank has started to tighten policy in order to neutralize the inflationary pressure coming 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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