Georgia’s annual inflation rate posts 6.6% increase

Georgia’s annual inflation rate posted a 6.6 percent year-on-year increase, reports the National Statistics Office of Georgia (Geostat).

Prices for food and non-alcoholic beverages increased 8.3 percent and contributed 2.53 percentage points to the overall Consumer Price Index (annual inflation) change.

The prices were higher for the following subgroups:

• Vegetables (30.3 percent)
• Sugar, jam, honey, chocolate and confectionery (11.3 percent)
• Milk, cheese and eggs (10.1 percent)
• Meat (eight percent) and oils and fats (six percent)

Meanwhile, prices decreased for fruit and grapes (-4.7 percent) said Geostat.

Transport-related costs were 17.5 percent higher contributing 2.13 percentage points to the annual inflation.

The prices increased for the subgroups of:

• Operation of personal transport equipment (24 percent)
• Purchase of vehicles (11.2 percent)
• Transport services (six percent)

Prices also increased (15 percent) for alcoholic beverages and tobacco with a relevant contribution of 0.97 percentage points to the overall annual inflation rate.

The prices increased both for:

• Tobacco (31.7 percent) and
• Alcoholic beverages (1.4 percent)

Health-related costs were up 6.7 percent, which resulted in a 0.60 percentage point contribution to the overall annual inflation.

Prices increased for subgroups of:

• Medical products, appliances and equipment (16.8 percent)
• Outpatient services (5.3 percent)