July 2016: Inflation reaches 0.2% in Georgia

People can buy food, vegetables, fruit, grapes and non-alcoholic beverages cheaper in Georgia, latest inflation rates show.

The cost of several basic food items was lower in July 2016 however prices were substantially higher for transport services, said the National Statistics Office of Georgia (Geostat), which today published its latest inflation data.

The figures showed Georgia’s monthly inflation rate amounted to 0.2 percent in July 2016.

Meanwhile the Consumer Price Index change (annual inflation rate) posted a 1.5 percent increase year-on-year (y/y) and the index rose 15.7 percent compared to 2010, said Geostat.

In July 2016 prices changed for several commodities in the consumer basket including food and non-alcoholic beverages. Prices in this group decreased 0.4 percent and contributed -0. 11 percentage points to the overall monthly inflation rate.

Prices substantially declined for:

• Vegetables (-12.7 percent);
• Fruit and grapes (-9.2 percent).

Meanwhile, in the reporting period transport prices increased 1.3 percent, contributing 0.16 percentage points to the overall monthly inflation rate.

Higher prices were recorded for:

• Vehicles (seven percent);
• Transport services (3.4 percent).

Prices also increased 1.3 percent, with a relevant contribution of 0.09 percentage points to the overall monthly inflation for alcoholic beverages and tobacco.