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Geostat: Consumer Price Index increases in Georgia

Business Materials 3 April 2020 13:31 (UTC +04:00)
Geostat: Consumer Price Index increases in Georgia

BAKU, Azerbaijan, Apr.3

By Tamilla Mammadova – Trend:

The Consumer Price Index (CPI) increased by 0.7 percent in Georgia in March 2020 compared to February 2020, Trend reports referring to National Statistics Office of Georgia (Geostat).

As reported, the monthly inflation rate was mainly influenced by price changes for the food and non-alcoholic beverages: the prices in the group increased by 2 percent, contributing 0.63 percentage points to the overall monthly inflation rate.

Within the group, the prices were higher for vegetables (9.6 percent), fruit and grapes (8.9 percent), sugar, jam, honey, chocolate and confectionery (3.7 percent), oils and fats (2.6 percent), mineral waters, soft drinks, fruit and vegetable juices (2.3 percent), bread and cereals (1.7 percent). In addition, the prices decreased for milk, cheese and eggs (-1.3 percent) and fish (-1.2 percent).

The prices for transport went down by 0.8 percent, contributing -0.09 percentage points to the overall monthly inflation rate. The prices decreased for transport services (-2 percent) and operation of personal transport equipment (-1.4 percent). In addition, the prices increased for purchase of vehicles (8.6 percent).

As reported, the annual inflation rate amounted to 6.1 percent.

With regard to the annual core inflation, the prices increased by 3.7 percent, while the annual core inflation without tobacco amounted to 3.3 percent.

The prices on the food and non-alcoholic beverages increased by 13.4 percent, contributing 4.18 percentage points to the overall annual inflation rate.

Within the group the prices were higher for the fruit and grapes (29.7 percent), milk, cheese and eggs (18.9 percent), sugar, jam, honey, chocolate and confectionery (14.8 percent), meat (14.7 percent), vegetables (12.5 percent), mineral waters, soft drinks, fruit and vegetable juices (10.2 percent), oils and fats (9.1 percent), fish (8 percent), bread and cereals (7 percent) and coffee, tea and cocoa (5.4 percent).

The prices on restaurants and hotels' services increased by 8.9 percent, with a relevant contribution of 0.4 percentage points to the overall annual CPI growth. The prices increased for catering services (10.3 percent), while prices were lower for accommodation services (-2.1 percent);

The prices on miscellaneous goods and services went up by 6.8 percent, which resulted in a 0.36 percentage point contribution to the overall annual inflation rate.

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