Geostat: Annual Inflation Rate Amounted to 6.9% in April

In April 2020 the Consumer Price Index increased by 0.9% compared to the previous month, while the annual inflation rate amounted to 6.9%, shows the latest report prepared by the National Statistics Office of Georgia (Geostat). 

With regard to the annual core inflation, the prices increased by 4.6%, while the annual core inflation without tobacco amounted to 4.1%. 

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 3.0%, contributing 1.01 percentage points to the overall monthly inflation rate. Within the group, the prices were higher for the following subgroups: fruit and grapes (17.7%), vegetables (7.1%), fish (6.2%), coffee, tea and cocoa (4.4%), sugar, jam, honey, chocolate and confectionery (3.0%), bread and cereals (1.6%), meat (1.2%), oils and fats (0.9%).

In addition, the prices decreased for milk, cheese and eggs (-0.3%);

Transport

The prices went down by 3.0%, contributing -0.36 percentage points to the overall monthly inflation rate. The prices decreased for the operation of personal transport equipment (-3.8%).

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 16.1%, contributing 5.04 percentage points to the overall annual inflation rate. Within the group, the prices were higher for the following subgroups: fruit and grapes (45.4%), milk, cheese and eggs (23.2%), sugar, jam, honey, chocolate and confectionery (16.9%), meat (15.0%), fish (14.9%), vegetables (14.1%), oils and fats (11.0%), mineral waters, soft drinks, fruit and vegetable juices (10.0%), coffee, tea and cocoa (10.0%) and bread and cereals (8.4%)

Health

The prices went up by 4.9%, contributing 0.39 percentage points to the overall annual inflation rate. The prices increased for the following subgroups: medical products, appliances and equipment (8.4%) and out-patient services (4.4%).

By Ana Dumbadze 

Source: Geostat 

See the full report here