Annual inflation rate in May 2018 amounts to 2.5%

National Bank President said 5% growth can be achieved but there were risks as a result of the instability in Ukraine., 04 Jun 2018 - 12:46, Tbilisi,Georgia

Georgia’s annual inflation rate amounted to 2.5 percent in May 2018 , while compared to the previous month the Consumer Price Index (annual inflation) remained unchanged, reports the National Statistics Office of Georgia (Geostat).

Last month prices for food and non-alcoholic beverages decreased by 0.7 percent and contributed -0.22 percentage points to the overall Consumer Price Index change.

Prices decreased for the following subgroups:

  • Milk, cheese and eggs (-6.6 percent)
  • Meat (-0.5 percent)
  • Sugar, jam, honey, chocolate and confectionary (-0.1percent)

In the meantime, prices increased for:

  • Fruit and grapes (4.0 percent)
  • Vegetables (1.7 percent)
  • Fish (1.5 percent)

As for transport related costs it increased by one percent and contributed 0.13 percentage points to the overall annual inflation rate.

The prices were up for subgroups of:

  • Transport services (1.2 percent)
  • Operation of personal transport equipment (1.2 percent)
  • Meanwhile, the prices were lower for subgroup of purchase of vehicles (-1.1 percent)