Geostat: Annual Inflation Rate Was 6.4% in February 2020

In February 2020 the Consumer Price Index increased by 0.3% compared to the previous month, while the annual inflation rate amounted to 6.4%, the latest data from the National Statistics Office of Georgia (Geostat) shows.  

With regard to the annual core inflation, the prices increased by 4.6%, while the annual core inflation without tobacco amounted to 3.8%.

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

Food and non-alcoholic beverages: the prices in the group increased by 1.3%, contributing 0.4 percentage points to the overall monthly inflation rate.

Within the group, the prices were higher for the following subgroups: vegetables (8.0%), fruit and grapes (3.6%), mineral waters, soft drinks, fruit and vegetable juices (1.7%), sugar, jam, honey, chocolate and confectionery (0.7%). In addition, the prices decreased for oils and fats (-0.6%) and milk, cheese and eggs (-0.3%); Clothing and footwear: the prices decreased by 3.1%, contributing -0.11 percentage points to the overall monthly inflation rate.

The prices went down for both footwear (-6.0%) and clothing (-1.4%); Transport: the prices decreased by 0.7%, which resulted in a -0.08 percentage point contribution to the overall annual inflation rate. The prices decreased for the purchase of vehicles (-1.2%) and the operation of personal transport equipment (-1.0%).

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

Food and non-alcoholic beverages: the prices in the group increased by 12.7%, contributing 3.95 percentage points to the overall annual inflation rate.

Within the group the prices were higher for the following subgroups: fruit and grapes (25.1%), milk, cheese and eggs (19.2%), meat (15.1%), sugar, jam, honey, chocolate and confectionery (11.2%), vegetables (11.1%), fish (10.3%), mineral waters, soft drinks, fruit and vegetable juices (8.7%), oils and fats (7.4 %), bread and cereals (5.6%) and coffee, tea and cocoa (5.0%); Restaurants and hotels: the prices went up by 8.7%, contributing 0.39 percentage points to the overall annual inflation rate. The prices in the group increased for catering services (9.5%) and accommodation services (1.3%).