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Geostat reveals inflation rate in Georgia

Business Materials 3 June 2020 11:40 (UTC +04:00)
Geostat reveals inflation rate in Georgia

BAKU, Azerbaijan, June 3

By Tamilla Mammadova - Trend:

Consumer Price Index (CPI) increased by 0.2 percent in May 2020 compared to the previous month, while the annual inflation rate amounted to 6.5 percent in Georgia, Trend reports via the National Statistics Office of Georgia (Geostat)

As reported, the monthly inflation rate was mainly influenced by price changes for the restaurants and hotels: the prices increased by 4.3 percent, with a relevant contribution of 0.22 percentage points to the overall monthly inflation rate.

The prices were higher for catering services (4.4 percent).

The prices for health went up by 1.3 percent, contributing 0.1 percentage points to the overall monthly inflation rate. The prices increased for medical products, appliances and equipment (2.8 percent).

The prices on transport decreased by 2.4 percent, contributing -0.27 percentage points to the overall monthly inflation rate. The prices were lower for operation of personal transport equipment (-4.4 percent).

With regard to the annual core inflation, the prices increased by 5.9 percent, while the annual core inflation without tobacco amounted to 5.4 percent.

The annual inflation rate was mainly influenced by price changes for the food and non-alcoholic beverages: the prices in the group increased by 14.7 percent, contributing 4.58 percentage points to the overall annual inflation rate.

The prices were higher for the following subgroups within the group: fruit and grapes (47.1 percent), milk, cheese and eggs (24.6 percent), fish (17.1 percent), sugar, jam, honey, chocolate and confectionery (14.5 percent), coffee, tea and cocoa (13.9 percent), meat (13.5 percent), oils and fats (13.1 percent), mineral waters, soft drinks, fruit and vegetable juices (9.5 percent), bread and cereals (9.2 percent) and vegetables (2.7 percent).

The price on transport went down by 4.6 percent, which resulted in a -0.57 percentage point contribution to the overall annual inflation rate. The prices decreased for operation of personal transport equipment (-6.9 percent)

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