Georgia’s July inflation at -0.5% in calculations involving EU methodology - National Statistics Office
Geostat said the figure showed a lower inflation combined to the domestic consumer price index method, which measured it at 0.3 percent. Photo: Nino Alavidze/Agenda.ge
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The monthly figure of inflation in Georgia stood at -0.5 percent for July in statistics compiled using a recently adopted methodology of the European Union’s harmonised indices of consumer prices, the National Statistics Office of Georgia said on Thursday.
The national body said the figure showed a lower inflation combined to the domestic consumer price index method, which measured it at 0.3 percent.
The annual inflation figure in the HICP methodology was mainly influenced by price changes for:
- Food and non-alcoholic beverages (-0.2%)
- Alcoholic beverages and tobacco (6.4%)
- Clothing and footwear (0.8%)
- Housing, water, electricity, gas and other fuels (3.5%)
- Furnishings, household equipment and routine maintenance of the house (1.4%)
- Healthcare (-7.3%)
- Transport (-13.1%)
- Communication (-2.7%)
- Recreation and culture (1.0%)
- Education (7%)
- Restaurants and hotels (6.1%)
- Miscellaneous goods and services (9.9%)
The annual inflation rate, as calculated with the consumer price index method, showed the data to have been influenced by price changes for transport (+12.1 percent), miscellaneous goods and services (+11.1 percent), alcoholic beverages and tobacco (+6.3 percent), housing, water, electricity, gas and other fuels (+4.9 percent), and health (-6.9 percent).
Prices of certain food products and non-alcoholic beverages decreased month-on-month in Georgia in June, while prices of transport, housing, water, electricity, gas and other fuels increased, the latest inflation data published by the National Statistics Office of Georgia on Monday shows.
Georgian Prime Minister Irakli Garibashvili on Friday told the country’s Parliament inflation was expected to further decline in the country after being observed at 1.5 percent in May, a 0.1 percent reduction compared to the previous month.
Prices of certain food products and non-alcoholic beverages decreased month-on-month in Georgia in May, while prices of alcoholic beverages, tobacco, miscellaneous goods and services increased, the latest inflation data published by the National Statistics Office of Georgia on Friday shows.
Archil Mestvirishvili, the Vice President of the National Bank of Georgia, on Thursday said the domestic financial sector was ensuring enforcement of the international sanctions on Russia for its invasion of Ukraine “very well”.
Georgian Prime Minister Irakli Garibashvili on Monday said the country’s economic growth had hit 7.2 percent in the first six months of this year while inflation had decreased to 0.9 percent in August, before pledging support for farmers in the country’s east by ensuring subsidies for damaged grapes following hail, strong winds and heavy rains last week.