Prices for industrial products in Georgia continue to grow
Prices for the year mainly increased for processing and mining products, as well as food
The producer price index of industrial products in November 2019 increased by 8.5% compared to November last year, according to the materials of the National statistics service of Georgia "Sakstat" (Gruzstat).
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 2.8696 GEL/$1.
The main challenge to the economy: the Georgian authorities are struggling with rising prices.
The formation of the index was mainly influenced by the increase in prices in the processing industry by 8.7% and mining-by 16.3%.
In November, compared with October, prices for industrial products increased by 0.6%.
Local production
Prices for industrial products manufactured in Georgia increased in November by 8.1% compared to the same month last year.
Most of all, prices rose in the processing industry - by 9.5%, including food - by 10.2%.
Export and import
The index of producer prices of industrial products for export increased by 9.6% compared to the same month last year.
Prices for mining products increased by 30.7%. Prices for exported products of the processing industry increased by 6.7%, including food products - by 7.7%, and metal products-by 9.9%.
Prices for industrial products imported to Georgia increased by 7.7% during the reporting period. At the same time, imported products of the processing industry rose by 7.7%, including food products-by 11.3%.
Consumer price
The annual inflation rate in November was 7% with a target of 3%. Food prices rose by 13.4%. 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.
Gahariya: the government supports the national Bank's measures to strengthen the lari exchange rate
Since September of this year, the national Bank has started to tighten 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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Prices for industrial products in Georgia continue to grow
Prices for the year mainly increased for processing and mining products, as well as food
The producer price index of industrial products in November 2019 increased by 8.5% compared to November last year, according to the materials of the National statistics service of Georgia "Sakstat" (Gruzstat).
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 2.8696 GEL/$1.
The main challenge to the economy: the Georgian authorities are struggling with rising prices.
The formation of the index was mainly influenced by the increase in prices in the processing industry by 8.7% and mining-by 16.3%.
In November, compared with October, prices for industrial products increased by 0.6%.
Local production
Prices for industrial products manufactured in Georgia increased in November by 8.1% compared to the same month last year.
Most of all, prices rose in the processing industry - by 9.5%, including food - by 10.2%.
Export and import
The index of producer prices of industrial products for export increased by 9.6% compared to the same month last year.
Prices for mining products increased by 30.7%. Prices for exported products of the processing industry increased by 6.7%, including food products - by 7.7%, and metal products-by 9.9%.
Prices for industrial products imported to Georgia increased by 7.7% during the reporting period. At the same time, imported products of the processing industry rose by 7.7%, including food products-by 11.3%.
Consumer price
The annual inflation rate in November was 7% with a target of 3%. Food prices rose by 13.4%. 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.
Gahariya: the government supports the national Bank's measures to strengthen the lari exchange rate
Since September of this year, the national Bank has started to tighten 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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