Georgia’s annual inflation rate posts 6.2% increase

Georgia’s annual inflation rate posted a 6.2 percent year-on-year increase, reports the National Statistics Office of Georgia (Geostat).

Meanwhile, in September 2017 the monthly inflation rate amounted to 0.7 percent.

Last month prices for food and non-alcoholic beverages increased 1.2 percent and contributed 0.36 percentage points to the overall Consumer Price Index (annual inflation) change.

The prices were higher for the following subgroups:

• Fruit and grapes (5.5 percent)
• Milk, cheese and eggs (4 percent)
• Vegetables (3.4 percent)

In September 2017 prices for fish wend down 0.8 percent.

As for transport related costs it increased by 1.8 percent and contributed 0.25 percentage points to the overall monthly inflation rate.

The prices were up for subgroups of:

• Purchase of vehicles (4 percent)
• Operation of personal transport equipment (2.8 percent)
• Meanwhile, prices decreased for transports services (-1 percent)

Prices for clothing and footwear were 1.9 percent lower, which had a downward effect of -0.06 percentage points on monthly inflation, said Geostat.

Prices decreased both for clothing (-2.5 percent) and footwear (-0.9 percent).