Georgia’s annual inflation rate posts 7.1% increase

Georgia’s annual inflation rate posted a 7.1 percent year-on-year increase, reports the National Statistics Office of Georgia (Geostat).

Meanwhile, in June 2017 the monthly inflation rate amounted to -0.4 percent.

Prices for food and non-alcoholic beverages decreased 1.5 percent and contributed -0.45 percentage points to the overall Consumer Price Index (annual inflation) change.

The prices were higher for the following subgroups:

• Vegetables (- nine percent)
• Milk, cheese and eggs (-2.1 percent)
• Oils and fats (-1.1 percent)
• Fruit and grapes (-0.9 percent)

In June 2017 prices increased (2.5 percent) for alcoholic beverages and tobacco with a relevant ontribution of 0.17 percentage points to the overall monthly inflation rate.

The prices increased both for:

• Tobacco (3.6 percent) and
• Alcoholic beverages (1.3 percent)