Inflation rate in Georgia

Inflation rate in Georgia

Inflation rate in Georgia

The FINANCIAL -- In August 2018 the Consumer Price Index increased by 0.5 percent compared to the previous month, while the annual inflation rate amounted to 3.1 percent.

The following table shows percentage changes in prices for the commodity groups of the cThe monthly inflation rate was mainly influenced by price changes for the following groups:

Food and non-alcoholic beverages: prices in the group increased by 1.5 percent, contributing 0.44 percentage points to the overall CPI change. Prices increased for the following subgroups: vegetables (16.4 percent), milk, cheese and eggs (4.8 percent). In the meantime, prices decreased for fruit and grapes (-16.2 percent);

Clothing and footwear: prices in the group decreased by 1.1 percent, contributing -0.04 percentage points to the overall CPI change. In the mentioned period prices decreased for footwear (-1.3 percent) and clothing (-1.1 percent);

The following table shows percentage changes in prices for the commodity groups of the consumer basket, as well as the relevant contributions to the overall annual inflation rate in August 2018.

Consumer basket as well as the relevant contributions to the overall monthly inflation rate.

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

Transport: prices in the group increased by 7.8 percent, with a relevant contribution of 1.04 percentage points to the overall index growth. Prices within the group increased for operation of personal transport equipment (12.9 percent). Meanwhile, the prices decreased for purchase of vehicles (-9.7 percent);

Food and non-alcoholic beverages: prices increased by 3.2 percent, contributing 0.96 percentage points to the annual inflation. There was an increase in the prices for the following subgroups: vegetables (24.7 percent), oils and fats (4.4 percent), meat (4.3 percent), fish (3.3 percent), milk, cheese and eggs (2.0 percent). Meanwhile, the prices decreased for the group of fruit and grapes (-17.1 percent), also for sugar, jam, honey, chocolate and confectionary (-3.1 percent);

Health: prices increased by 5.2 percent, which resulted in a 0.44 percentage point contribution

to the overall annual inflation. Prices increased for the following subgroups: medical products, appliances and equipment (10.0 percent), out-patient services (2.9 percent) and hospital services (2.4 percent);

Alcoholic beverages and tobacco: prices in the group increased by 4.7 percent, with a relevant contribution of 0.33 percentage points to the annual inflation. Prices increased for the subgroup of tobacco (8.0 percent) and alcoholic beverages (1.4 percent);

Housing, water, electricity, gas and other fuels: prices increased by 3.4 percent, contributing 0.29 percentage points to the annual inflation. The prices increased for the subgroups of water supply and miscellaneous services relating to the dwelling (7.7 percent) and electricity, gas and other fuels (3.2 percent).