Annual inflation up 0.6% in February 2014

Georgia’s annual inflation has hit 3.5% in February, up from 2.9% recorded in January, latest data from state statistics office Geostat reveals.

The country’s monthly basis inflation stood at 0.2% in February.

The most significant impact on the inflation rate was made by price changes in the healthcare sector, medical products, appliances and equipment, restaurants and hotels.

Health-related costs increased by 1.7%, which contributed 0.17% points to the overall inflation rate.

Significant price increases were also recorded for the subsection of medical products, appliances and equipment - 6.7%. The cost of dining out at restaurants or hotel costs rose by 1.6%.

The most significant contributors to the annual Consumer Price Index (CPI) rate were made by increased cost of food and non-alcoholic beverages, housing, water, electricity, gas and other fuels. The cost of alcoholic beverages and tobacco also increased.