Georgia: Technical Assistance Report-Report on the Producer Price Index and Residential Property Price Index Mission
IMF Staff Country Reports, October 3, 2018
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- Georgia: Technical Assistance Report-Report on the Producer Price Index and Residential Property Price Index Mission
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Bibliographic details
- Published: October 3, 2018
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484378694.002
Mission objective and scope
- Assist Georgia’s National Statistics Office (Geostat) in developing a residential property price index (RPPI) and expanding coverage of the producer price index (PPI).
- Publication date: October 3, 2018.
Key findings
- Geostat compiles a monthly PPI for industrial products.
- Current PPI industry coverage includes:
- mining and quarrying;
- manufactured products;
- electricity energy, gas, steam, and hot water.
- PPI coverage of the services sector is currently limited to freight transport.
- Improved coverage of the PPI will:
- facilitate the assessment of developments in the production and prices of services;
- provide more reliable indicators to derive estimates of GDP in constant prices.
Recommendations and methodological considerations
- Expand PPI coverage to include additional services beyond freight transport to better capture services production and price dynamics.
- Develop and implement a residential property price index (RPPI) consistent with Geostat’s needs for housing price measurement.
- Consider methodological options and data practices referenced in keywords (e.g., E. RPPI methodology option, output-weighted PPI, RPPI compilation, RPPI production, transaction terms) to guide RPPI and services PPI development.
- Enhance data collection and processing practices (e.g., CR, data collector, data editing, ISCR) to support expanded indices.
Subject areas and keywords
- Subject: Consumer price indexes, Housing, National accounts, Price indexes, Prices, Producer price indexes
- Keywords: Consumer price indexes, coverage of the producer price index, CR, data collector, data editing, E. RPPI methodology option, Eastern Europe, Geostat, Housing, ISCR, output-weighted PPI, PPI coverage, Price indexes, Producer price indexes, RPPI compilation, RPPI production, services PPI, transaction terms
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- Country Report