Georgia’s monthly inflation amounts to 0.2% in February

Georgia's gross external debt increased by $357 million during Q4 of 2015, said NBG. Photo by N. Alavidze/, 02 Mar 2018 - 11:44, Tbilisi,Georgia

Georgia’s monthly inflation rate amounted to 0.2 percent in February 2018, reports the National Statistics Office of Georgia (Geostat).

As for the Consumer Price Index (annual inflation rate) it posted a 2.7 percent increase compared to the same month of the previous year.

Last month prices for food and non-alcoholic beverages increased 0.4 percent and contributed 0.13 percentage points to the overall annual inflation change, said Geostat.

The prices were higher for the following subgroups:

  • Fruit and grapes (10.4 percent)
  • Vegetables (2.9 percent)
  • Fish (1.5 percent)

Meanwhile, prices decreased for:

  • Milk, cheese and eggs (-2.3 percent)
  • Sugar, jam, honey, chocolate and confectionary (-1.6 Percent)

Prices in the group of restaurants and hotels increased by 2.1 percent, contributing 0.09 percentage points to the overall consumer price index (CPI) change.

Prices increased for:

  • Catering services (2.3 percent)
  • Accommodation services (0.7 percent)

Prices increased by 1.2 percent in the group of alcoholic beverages and tobacco. Correspondingly, the group had an upward effect of 0.08 percentage points on the monthly inflation. Prices were higher both for:

  • Tobacco (2.1 percent)
  • Alcoholic beverages (0.4 percent)

The cost of clothing and footwear decreased by 2.2 percent, contributing -0.08 percentage points to the overall CPI change. Within the group prices decreased for footwear (-5.4 percent).