Georgia’s annual inflation rate posts 6% increase

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

Meanwhile, in July 2017 the monthly inflation rate amounted to -0.9 percent.

Last month prices for food and non-alcoholic beverages decreased 2.6 percent and contributed -0.78 percentage points to the overall Consumer Price Index (annual inflation) change.

The prices were lower for the following subgroups:

• Vegetables (-18 percent)
• Fruit and grapes (-9 percent)
• Meat (-0.5 percent)
• Sugar, jam, honey, chocolate and confectionery (-0.3 percent)

In July 2017 transport related costs decreased (one percent) with a relevant contribution of -0.14 percentage points to the overall monthly inflation rate.

Prices were down for the subgroups of:

• Operation of personal transport equipment (-2.3 percent)
• Purchase of vehicles (-1.5 percent)

Meanwhile, prices increased for transport services (2.2 percent), said Geostat.