Georgia’s July inflation at -0.5% in calculations involving EU methodology - National Statistics Office

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).