National Statistics Office Reports January Inflation Rate

The National statics Office (GEOSTAT) released a report on inflation for January 2017.

The report says that this months inflation rate was 2.9%, taking into account price changes for various food groups and non-alcoholic beverages.

For the period of January 2017, an increase of 4.2 percent in food prices and non-alcoholic beverages has contributed 1.27 percentage points to the overall Consumer Price Index (CPI) change.

According to data from the recent report, vegetable prices were higher -2.4%; fruit and grapes- 8.9 %; cheese, milk and eggs- 3.1%; oils and fats- 3.1%; fish- 2.8%; and meat- 2.5%.

In the transportation category, prices have increased by a reported 7.2%, contributing 0.94 points to monthly inflation.

The report indicates that compared to the same month of the previous year, the Consumer Price Index change (annual inflation rate) saw only a 3.9% increase.

Nino Gugunishvili