In January 2024 the Consumer Price Index increased by 0.3 percent compared to the previous month, while the annual inflation rate amounted to 0.0 percent, - accordng to the data from the National Statistics Office of Georgia (Geostat).
With regard to the annual core inflation, the prices increased by 1.4 percent, while the annual core inflation without tobacco amounted to 1.2 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 decreased by 2.4 percent, contributing -0.82 percentage points to the overall annual inflation rate. Within the group the prices decreased for the following subgroups: oils and fats (-15.9 percent), vegetables (-11.3 percent), bread and cereals (-9.0 percent), milk, cheese and eggs (-4.1 percent). At the same time, the prices increased for the following subgroups: fruit and grapes (19.7 percent), meat (6.1 percent), mineral waters, soft drinks, fruit and vegetable juices (2.9 percent), sugar, jam, honey, chocolate and confectionery (2.7 percent), fish (1.9 percent), coffee, tea and cocoa (1.3 percent);
Health: the prices decreased by 3.3 percent, contributing -0.32 percentage points to the overall index. The prices were lower for medical products, appliances and equipment (-7.7 percent). At the same time, the prices increased for out-patient services (5.6 percent) and hospital services (3.9 percent).
Transport: the prices for the group increased by 4.3 percent, contributing 0.53 percentage points to the overall index. Within the group the prices increased for the following subgroups: purchase of vehicles (7.8 percent), operation of personal transport equipment (4.2 percent), transport services (2.8 percent);
Miscellaneous goods and services: the prices for the group increased by 9.2 percent, contributing 0.49 percentage points to the overall index. Within the group, the prices were higher mainly for the following subgroups: financial services n.e.c. (26.6 percent), personal effects n.e.c. (4.4 percent), personal care (4.1 percent);
Alcoholic beverages and tobacco: the prices increased by 3.5 percent, with the relevant contribution of 0.24 percentage points to the overall index. The prices increased for both tobacco (4.8 percent) and alcoholic beverages (2.8 percent).
