03.Aug .2022 13:00

Annual inflation rate in Georgia amounted to 11.5%

Annual inflation rate in Georgia amounted to 11.5%
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In July 2022 the Consumer Price Index in Georgia increased by 0.2 percent compared to the previous month, while the annual inflation rate amounted to 11.5 percent, reads the latest data of the National Statistics Office of Georgia (GeoStat).

With regard to the annual core inflation, the prices increased by 7.1 percent, while the annual core inflation without tobacco amounted to 7.0 percent.

According to GeoStat, the monthly inflation rate was mainly influenced by price changes for the following groups:

Transport: the prices in the group increased by 2.4 percent, contributing 0.3 percentage points to the overall index. Within the group the prices increased for operation of personal transport equipment (2.8 percent) and transport services (2.7 percent). At the same time, the prices decreased for purchase of vehicles (-1.2 percent);

Miscellaneous goods and services: the prices for the group increased by 5.7 percent, contributing 0.29 percentage points to the overall monthly inflation rate;

Furnishings, household equipment and maintenance: the prices increased by 2.0 percent, contributing 0.1 percentage points to the overall monthly inflation rate. The prices were higher for the following subgroups: goods and services for routine household maintenance (2.6 percent), furniture and furnishings, carpets and other floor coverings (2.1 percent), glassware, tableware and household utensils (1.3 percent);

Food and non-alcoholic beverages: the prices for the group decreased by 1.4 percent, contributing -0.47 percentage points to the overall monthly index change. The prices were lower for the following subgroups: vegetables (-21.1 percent), fruit and grapes (-9.4 percent), fish (-1.6 percent). Along with this, the prices increased for milk, cheese and eggs (3.0 percent), sugar, jam, honey, chocolate and confectionery (2.9 percent), oils and fats (2.4 percent), bread and cereals (2.0 percent).

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

Food and non-alcoholic beverages: the prices in the group increased by 16.4 percent, contributing 5.25 percentage points to the overall annual inflation rate. Within the group the prices increased for the following subgroups: bread and cereals (29.3 percent), mineral waters, soft drinks, fruit and vegetable juices (21.3 percent), coffee, tea and cocoa (18.2 percent), sugar, jam, honey, chocolate and confectionery (18.1 percent), oils and fats (17.5 percent), milk, cheese and eggs (16.9 percent), fish (14.9 percent), fruit and grapes (13.7 percent), meat (12.7 percent);

Transport: the prices in the group increased by 20.6 percent, contributing 2.46 percentage points to the overall index. Within the group the prices increased for operation of personal transport equipment (25.6 percent), transport services (14.7 percent) and purchase of vehicles (3.6 percent);

Housing, water, electricity, gas and other fuels: the prices for the group posted a 13.3 percent increase, which contributed 1.31 percentage points to the annual inflation rate. The prices were higher for the following subgroups: actual rentals for housing (27.3 percent), maintenance and repair of the dwelling (13.1 percent) and electricity, gas and other fuels (6.0 percent);

Alcoholic beverages and tobacco: The prices in the group increased by 8.3 percent, contributing 0.55 point to the annual inflation rate. The prices were higher both for the alcoholic beverages (9.1 percent) and tobacco (7.4 percent).