In July 2023 the Consumer Price Index decreased by 0.04% compared to the previous month, while the annual inflation rate amounted to 0.3 percent, - according to the National Statistics Office of Georgia (Geostat).
With regard to the annual core inflation, the prices increased by 3.2 percent, while the annual core inflation without tobacco amounted to 3.1 percent.
The monthly inflation rate was mainly influenced by price changes for the following groups:
Furnishings, household equipment and maintenance: the prices for the group decreased by 2.3 percent, contributing -0.11 percentage points to the overall monthly inflation rate. The prices decreased for the following subgroups: goods and services for routine household maintenance (-4.5 percent), household textiles (-1.9 percent), glassware, tableware and household utensils (-1.0 percent). At the same time, prices increased for subgroups: furniture and furnishings, carpets and other floor coverings (4.9 percent), tools and equipment for house and garden (1.3 percent);
Clothing and footwear: the prices decreased by 2.0 percent, contributing -0.09 percentage points to the overall monthly inflation rate. The prices went down for both footwear (-3.9 percent) and clothing (-1.3 percent);
Food and non-alcoholic beverages: the prices for the group decreased by 0.2 percent, contributing -0.09 percentage points to the overall monthly inflation rate. The prices mainly decreased for the following subgroups: oils and fats (-2.8 percent), fish (-1.8 percent), milk, cheese and eggs (-1.0 percent). At the same time, prices increased for fruit and grapes (3.9 percent);
Transport: the prices for the group increased by 1.8 percent, contributing 0.22 percentage points to the overall index. Within the group the prices increased for the following subgroups: operation of personal transport equipment (2.5 percent), purchase of vehicles (1.0 percent) and transport services (0.7 percent).
