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Inflation in March hit a record high for the past two years

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Natia Taktakishvili
02.04.21 12:00
790
Geostat reports, that in March 2021 the annual inflation rate amounted to 7.2%, which is a record high since 2019.

According to Geostat, 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 5.7%, contributing 1.86 percentage points to the overall annual inflation rate. Within the group the prices increased for the following subgroups: oils and fats (35.8%), coffee, tea and cocoa (13.7%), sugar, jam, honey, chocolate and confectionery (13.0%), fish (12.2%), milk, cheese and eggs (8.5%), bread and cereals (7.7%), mineral waters, soft drinks, fruit and vegetable juices (5.0%) and meat (4.0%). Along with this, the prices decreased for fruit and grapes (-8.6%) and vegetables (-12%);

Housing, water, electricity, gas and other fuels: the prices in the group increased by 7.6%, which contributed 1.24 percentage points to the annual inflation rate. The prices went up for the following subgroups: maintenance and repair of the dwelling (7.9%), electricity, gas and other fuels (7.8%) and water supply and miscellaneous services relating to the dwelling (4.5%);

Health: the prices went up by 13.6%, contributing 1.03 percentage points to the overall annual inflation rate. The prices increased for medical products, appliances and equipment (21.3%) and out-patient services (12%);

Transport: the prices increased by 5.8%, contributing 0.77 percentage points to the overall annual inflation rate. Within the group the prices increased for operation of personal transport equipment (8.8%); Furnishings, household equipment and maintenance: the prices in the group increased by 12.0 percent, contributing 0.67 percentage points to the annual inflation. The prices were higher for the following subgroups: household textiles (17.4%), glassware, tableware and household utensils (16.4%), tools and equipment for house and garden (14.2%), household appliances (12.2%), goods and services for routine household maintenance (11%), furniture and furnishings, carpets and other floor coverings (9.6%); Alcoholic beverages and tobacco: the prices were 8.9 % higher, with a relevant contribution of 0.56 percentage points to the overall annual inflation rate. The prices increased for both tobacco (12.1%) and alcoholic beverages (6.2%).