03.Aug .2021 14:00

The Annual Inflation Rate In Georgia Amounted To 11.9%

The Annual Inflation Rate In Georgia Amounted To 11.9%
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In July 2021 the Consumer Price Index increased by 1.3% compared to the previous month, while the annual inflation rate amounted to 11.9%, - reports the National Statistics Office.

According to Geostat, as for annual core inflation, the prices increased by 6.4 percent, while the annual core inflation without tobacco amounted to 6.3%.

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

Food and non-alcoholic beverages: the prices for the group increased by 3.2%, contributing 1.02 percentage points to the overall monthly index change. The prices were higher for the following subgroups: vegetables (6.5 %), bread and cereals (6.5 %), milk, cheese and eggs (5.2%), fruit and grapes (5.0 %), mineral waters, soft drinks, fruit and vegetable juices (3.5 %), sugar, jam, honey, chocolate and confectionery (1.1 %);

Transport: the prices increased by 1.4 %, contributing 0.18 percentage points to the monthly inflation. Within the group the prices increased for transport services (2.2 %), purchase of vehicles (1.3 %) and operation of personal transport equipment (1.2 %);

Restaurants and hotels: the prices for the group posted a 1.2% increase, with the relevant contribution of 0.08 percentage points to the monthly inflation rate. Within the group, the prices were higher for accommodation services (9.7%).

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 14.1 %, contributing 4.43 percentage points to the overall annual inflation rate. Within the group the prices increased for the following subgroups: oils and fats (48.0 %), vegetables (35.4 %), sugar, jam, honey, chocolate and confectionery (18.1 %), milk, cheese and eggs (15.4 %), bread and cereals (12.4 %), fish (11.5 %), mineral waters, soft drinks, fruit and vegetable juices (10.4 %), meat (5.3%), coffee, tea and cocoa (4.7%);

Transport: the prices increased by 22.5 %, contributing 2.65 percentage points to the annual inflation rate. Within the group the prices increased for operation of personal transport equipment (33.2 %), transport services (3.8 %) and purchase of vehicles (1.7%);

Housing, water, electricity, gas and other fuels: the prices for the group posted an 11.1% increase, which contributed 1.65 percentage points to the annual inflation rate. The prices were higher for the following subgroups: electricity, gas and other fuels (13.6%), maintenance and repair of the dwelling (8.7%) and water supply and miscellaneous services relating to the dwelling (4.5%). In the same period, prices were lower for actual rentals for housing (-3.8%);

Health: the prices went up by 11.4 percent, contributing 0.89 percentage points to the overall annual inflation rate. The prices increased for medical products, appliances and equipment (19.8 %), hospital services (5.3 %) and out-patient services (3.8 %)", - reads the report.