Annual Inflation Rate in Georgia at 2.8%

In July 2018, the monthly inflation rate in Georgia decreased by 0.3%. Compared to the same period of the previous year, the Consumer Price Index change (CPI - annual inflation rate) posted a 2.8% increase.

The information was released by Georgia’s National Statistics Office (Geostat) which reports that this month’s inflation rate was influenced by price changes for food and non-alcoholic beverages, transport, footwear and clothing.

In particular, Geostat says the prices in the group of food and non-alcoholic beverages decreased by 1.1%, contributing -0.32 percentage points to the overall CPI change.

However, in the transport category the prices increased by 1.2%, contributing 0.15 percentage points to the overall CPI change.

Prices in the group of footwear and clothing decreased by 1.4%, contributing -0.05 percentage points to the overall CPI change.

In the mentioned period, the prices decreased for footwear (-2.4 %) and clothing (-1.0%).

The annual inflation rate was mainly influenced by price changes for the following groups:

Transport - prices in the group increased by 6.9%;

Food and non-alcoholic beverages - increased by 2.3%;

Housing, water, electricity, gas and other fuels - 5.2% increase;

Health - prices increased by 5%;

Alcoholic beverages and tobacco – prices up by 4.4%;

Clothing and footwear – 8.3% decrease.

In June 2018, the monthly inflation rate amounted to -0.6 % while the annual inflation rate saw a 2.2% increase.

By Thea Morrison