Geostat Has Started Producing a New Index in Price Statistics

Date: 5 June 2023

The National Statistics Office of Georgia has developed a new indicator - the Unit Value Index of Agricultural Products. The index represents the change in the average price level of products that are sold in the reporting period by agricultural holdings throughout the country.

 

The structure of the Unit Value Index of Agricultural Products follows the Statistical Classification of Products by Activity (CPA 2008). According to the CPA, the index covers 01.1, 01.2, and 01.4 groups of the Section A (agricultural, forestry and fishing products).

 

Geostat started working on the new indicator in 2021 with the technical assistance of the International Monetary Fund. The index was calculated taking into account international methodology and leading practices, and is used for the following purposes:

 

1.    The index plays an important role in the process of deflation of various economic indicators; 

 

2.    The index is an analytical tool for business professionals and researchers. 

 

The Unit Value Index of Agricultural Products will be published on the Geostat website on a quarterly basis. For further details regarding the index, please contact the Price Statistics Department of the National Statistics Office of Georgia by phone: 236-72-10 (extensions: 400 or 405), or by e-mail: gtetrauli@geostat.ge.
 

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