August inflation: prices of restaurants and hotels services, food up in Georgia

The prices of restaurant and hotel services, as well as cost of food, increased in Georgia in August month-on-month, while the prices of transport decreased in the reporting period, according to the latest inflation data from the National Statistics Office of Georgia.

The figures showed prices for restaurant and hotel services increase by 2.3 percent. This included increased prices for both accommodation (3%) and catering services (2.2%).

Prices for food and non-alcoholic beverages marked a 0.9 percent increase, including:

• Milk, cheese and eggs (7.3%)
• Bread and cereals (2.7%)
• Coffee, tea and cocoa (1.6%)
• Meat (1.2%)

At the same time, prices decreased for the following subgroups: 

• Vegetables (-6.6%) 
• Fruit and grapes (-11.3%)

The figures also showed that prices for transport decreased by 3.1 percent. 

Within the group the prices decreased for operation of personal transport equipment (-4.3%) and purchase of vehicles (-1.4%)", Geostat said.

Overall, in August 2022 the consumer price index increased by 0.1 percent compared to the previous month, while the annual inflation rate amounted to 10.9 percent.

• Central Bank expects 9% average inflation rate in 2022

With regards to the annual core inflation, the prices increased by seven percent, while the annual core inflation without tobacco also amounted to seven percent", Geostat said.

As for annual inflation, prices increased in the group of food and non-alcoholic beverages (+15.8%), transport (+ 15.6%), housing, water, electricity, gas and other fuels (+12.4%), and restaurants and hotels (+14.9%).