Georgia’s annual inflation rate posts 6.9% increase

Georgia’s annual inflation rate posted a 6.9 percent year-on-year increase, reports the National Statistics Office of Georgia (Geostat).

Meanwhile, in November 2017 the monthly inflation rate amounted to 1.1 percent.

Last month prices for food and non-alcoholic beverages increased 0.8 percent and contributed 0.26 percentage points to the overall Consumer Price Index (annual inflation) change.

The prices were higher for the following subgroups:

• Vegetables (6.5 percent)
• Sugar, jam, honey, chocolate and confectionery (1.4 percent)
• Milk, cheese and eggs (1.2 percent)
• Oils and fats (0.7 percent)

Meanwhile, prices for fruit and grapes went down (-9.2 percent) in November 2017, said Geostat.

As for transport related costs it increased by 2.8 percent and contributed 0.39 percentage points to the overall monthly inflation rate.

The prices were up for subgroups of:

• Purchase of vehicles (9.5 percent)
• Transport services (4.5 percent)
• Operation of personal transport equipment (1.6 percent)

Prices for alcoholic beverages and tobacco were 1.7 percent higher, which had an upward effect of 0.12 percentage points on monthly inflation, said Geostat.

Prices increased both for tobacco (1.9 percent) and alcoholic beverages (1.4 percent).