Geostat on August Inflation

The National Statistics Office of Georgia (Geostat) has published a report about the latest inflation data in the country, saying Georgia’s monthly inflation increased by 0.8% in August compared to the previous month, while the annual inflation rate amounted to 4.9%.

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

Food and non-alcoholic beverage prices were up by 1.5%, contributing 0.48 percentage points to the overall monthly inflation rate. Within the group, the prices were higher for the following subgroups: milk, cheese and eggs (4.8%), meat (2.3%), sugar, jam, honey, chocolate and confectionery (1.6%), fish (1.3%), oils and fats (1.2%). Meanwhile, the prices decreased for vegetables (-2.2%);

Transport: prices went up by 0.6%, contributing 0.07 percentage points to the overall monthly inflation rate. The prices in the group increased for purchase of vehicles (2.0%) and operation of personal transport equipment (0.9%). Meanwhile, the prices were lower for transport services (-0.5%);

Health: prices went up by 0.7%, contributing 0.05 percentage points to the overall monthly inflation rate. The prices increased for medical products, appliances and equipment (1.6%). Prices went up by 0.6% for transport.

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

Food and non-alcoholic beverages:

The prices within the group increased by 8.0%, contributing 2.38 percentage points to the overall annual inflation rate. Within the group the prices were higher for the following subgroups: fruit and grapes (18.2%), fish (16.3%), bread and cereals (12.4%), sugar, jam, honey, chocolate and confectionery (11.0%), meat (9.3%), milk, cheese and eggs (6.5%), mineral waters, soft drinks, fruit and vegetable juices (4.7%). Meanwhile, the prices decreased for vegetables (-3.4%);

Alcoholic beverages and tobacco:

The prices increased by 13.8%, with a relevant contribution of 0.92 percentage points to the overall annual CPI growth. The prices increased for tobacco (29.1%);

Transport: the prices increased by 4.4%, which resulted in a 0.53 percentage point contribution to the overall annual inflation rate. The prices were higher for purchase of vehicles (8.4 percent), operation of personal transport equipment (4.9%) and for transport services (2.1%);

Recreation and culture:

The prices went up by 6.2%, contributing 0.36 percentage points to the overall annual inflation rate. The prices in the group increased for recreational and cultural services (6.6%);

Health: the prices went up by 3.9%, contributing 0.32 percentage points to the overall annual inflation rate. The prices increased for the following subgroups: medical products, appliances and equipment (5.8%), out-patient services (3.6%) and hospital services (1.7%).

By Ana Dumbadze