In August 2023 the Consumer Price Index increased by 0.7 percent compared to the previous month, while the annual inflation rate amounted to 0.9 percent, - according to the preliminary data from the National Statistics Office of Georgia (Geostat).
As of the document, with regard to the annual core inflation, the prices increased by 2.7%, while the annual core inflation without tobacco amounted to 2.5%.
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 2.4 percent, contributing 0.76 percentage points to the overall annual inflation rate. Within the group the prices increased for the following subgroups: vegetables (46.4 percent), fruit and grapes (12.9 percent), fish (9.7 percent), meat (5.8 percent), mineral waters, soft drinks, fruit and vegetable juices (5.8 percent), coffee, tea and cocoa (1.8 percent). At the same time, prices decreased for the subgroups of oils and fats (-26.3 percent), bread and cereals (-7.9 percent), sugar, jam, honey, chocolate and confectionery (-1.2 percent), milk, cheese and eggs (-0.3 percent);
Miscellaneous goods and services: the prices for the group increased by 10.9 percent, contributing 0.58 percentage points to the overall index. Within the group, the prices were higher for the following subgroups: financial services n.e.c. (27.9 percent) and personal care (7.9 percent);
Housing, water, electricity, gas and other fuels: the prices for the group posted a 5.0 percent increase, which contributed 0.52 percentage points to the annual inflation rate. The prices were higher for the following subgroups: maintenance and repair of the dwelling (11.7 percent), actual rentals for housing (9.9 percent);
Transport: the prices for the group decreased by 7.9 percent, contributing -0.94 percentage points to the overall index. Within the group the prices decreased for the following subgroups: operation of personal transport equipment (-13.2 percent). At the same time, prices increased for
transport services (3.8 percent) and purchase of vehicles (2.7 percent);
Health: the prices for the group decreased by 7.3 percent, with the relevant contribution of -0.72 percentage points to the annual inflation rate. Within the group, the prices were lower for medical products, appliances and equipment (-17.6 percent). At the same time, prices increased for outpatient services (11.6 percent) and hospital services (6.4 percent).
