Georgia’s Annual Inflation Dropped to 3.2% in April

TBILISI – According to the latest published data from the National Statistics Office of Georgia (Geostat) food, non-alcoholic beverages and medical-related costs dropped, while the cost of tobacco and alcohol increased in April.

Georgia’s monthly inflation rate for April dropped to 0.6 per cent, down from 0.3 per cent in March, while the year-on-year annual inflation rate for the month rose 3.2 per cent.

The annual average for the Consumer Price Index has risen 17.0 per cent since 2010.

Geostat said the monthly inflation rate was mainly influenced by price changes for food and non-alcoholic beverages, health, and alcoholic beverages and tobacco.

The prices for food and non-alcoholic beverages decreased 0.7 per cent last month, which contributed a 0.23 percentage point decrease to the overall monthly inflation rate. The change was mainly attributable to a 6.0 per cent price drop for milk, cheese and eggs and vegetables 2.2 per cent decrease for vegetables.

Health and pharmaceutical prices posted a 1.9 per cent decrease, contributing to a 0.19 percentage point hike to the overall inflation rate. Prices were substantially lower - 7.2 per cent - for medical products, appliances and equipment.

The 1.6 per cent increase in price for alcoholic beverages and tobacco contributed a 0.10 percentage point upward adjustment to the overall index change as tobacco prices jumped 2.5 per cent in April.

The overall annual inflation rate rose on the back of price increases for the same groups of products and consumer goods. Alcoholic beverage and tobacco prices rose to 14.7 per cent; health prices to 7.5 per cent; food and non-alcoholic beverages to 1.9 per cent on the year.

By Eka Karsaulidze
Edited by Nicholas Waller

Photo: Naomi/expatedna.com