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y/y in June) over the past four months. But after extracting the contribution of the tobacco prices (pushed up by excises), the corrected core inflation remained around 1.1%-1.4% over the past four months.
4.2.2 PPI dynamic
Georgia’s PPI for industrial products up 5.4% y/y in Mar
Georgia’s Producer Price Index (PPI) for industrial products increased by 6.4% y/y in June, rising from 4.1% y/y in the previous month and 5.4% in March, according to the national statistics office.
It was the highest producer inflation since August last year as cost increased faster for manufacturing (6.1% rise in March) and electricity, gas, steam and air conditioning supply (1.4% in March). Moreover, prices rebounded sharply for mining and quarrying (5.3% in March).
On a monthly basis, producer prices rose 1.1% in March after showing no growth in February.
19 GEORGIA Country Report August 2019 www.intellinews.com