04.Nov .2019 17:20

The Annual Inflation Rate Amounted to 6.9 Percent in October

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Inflation rate increases with high pace in Georgia. According to Sakstat, in October 2019 the Consumer Price Index increased by 0.8 percent compared to the previous month, while the annual inflation rate amounted to 6.9 percent. As of Sakstat, prices were up by 13.5% on food, 3.2% - healthcare, 13.8% - tobacco and alcohol beverages, 3% - transport.

Food and non-alcoholic beverages: the prices in the group went up by 13.5 percent, contributing 4.02 percentage points to the overall annual inflation rate. The prices were higher for the following subgroups: fruit and grapes (26.9 percent), milk, cheese and eggs (16.0 percent), fish (15.8 percent), meat (14.7 percent), sugar, jam, honey, chocolate and confectionery (13.7 percent), vegetables (12.4 percent), also bread and cereals (11.0 percent);

Alcoholic beverages and tobacco: the prices increased by 13.8 percent, with a relevant contribution of 0.92 percentage points to the overall annual CPI growth. The prices were higher for tobacco (26.8 percent) and for alcoholic beverages (3.0 percent);

Recreation and culture: the prices rose by 7.3 percent, contributing 0.41 percentage points to the overall annual inflation rate. The prices in the group increased for recreational and cultural services (6.3 percent);

Transport: the prices increased by 3.0 percent, which resulted in a 0.36 percentage point contribution to the overall annual inflation rate. The prices were higher for purchase of vehicles (8.1 percent), operation of personal transport equipment (3.1 percent) and transport services (1.7 percent);

Restaurants and hotels: the prices went up by 6.9 percent, contributing 0.3 percentage points to the overall annual inflation rate. The prices in the group increased for catering services (8.3 percent).