Geostat reveals inflation rate in Georgia

Geostat reveals inflation rate in Georgia

BAKU, Azerbaijan, Feb. 13

By Tamilla Mammadova – Trend:

The Consumer Price Index, a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, decreased by 1 percent in December 2020 compared to the previous month, Trend reports via the National Statistics Office of Georgia (Geostat).

The annual inflation rate amounted to 2.4 percent, data from the National Statistics Office of Georgia said.

With regard to the annual core inflation (calculated by excluding the following groups of goods and services from the consumer basket: food and non-alcoholic beverages, energy, regulated tariffs, transport) prices increased by 5.3 percent, while the annual core inflation (without tobacco) amounted to 4.9 percent.

The monthly inflation rate was mainly influenced by price changes for the following groups:

- Monthly prices of housing, water, electricity, gas and other fuels decreased, which contributed -1.89 percentage points to the monthly inflation rate.

- Prices of food and non-alcoholic beverages increased by 2.1 percent, contributing 0.69 percentage points to the overall monthly inflation rate.

Prices were higher for the following subgroups:

Vegetables - 6.5 percent
Milk, cheese and eggs - 4.2 percent
Fruit and grapes - 3.8 percent
Oils and fats - 3.5 percent
Fish - 1.9 percent

The price of transport increased by 2.4 percent, contributing 0.26 percentage points to the overall monthly inflation rate. Within the group, prices increased for operation of personal transport equipment (4.1 percent). Along with this, the prices decreased for purchase of vehicles (-1.3 percent).

As for the annual price changes of food and non-alcoholic beverages, the prices in the group increased by 6.8 percent.

Within the group, the prices increased for the following subgroups:

Oils and fats - 27.2 percent
Coffee, tea and cocoa -13.4 percent
Milk, cheese and eggs - 11.3 percent
Fish - 8.8 percent
Sugar, jam, honey, chocolate and confectionery - 8 percent
Bread and cereals - 7 percent
Mineral waters, soft drinks, fruit and vegetable juices - 4.5 percent
Vegetables - 3.3 percent
Meat - 1.7 percent

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Follow the author on Twitter: @Mila6197935

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