In October 2024 the Consumer Price Index increased by 0.3 percent compared to the previous month, while the annual inflation rate also amounted to 0.3 percent, - according to the preliminary data from the National Statistics Office of Georgia (Geostat). With regard to the annual core inflation, the prices increased by 1.2 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:
Restaurants and hotels: the prices went up by 7.6 percent, contributing 0.26 percentage points to the overall annual inflation rate. The prices in the group increased for accommodation services (10.4 percent) and catering services (6.8 percent);
Education: the prices for the group increased by 5.0 percent, contributing 0.25 percentage points to the overall annual inflation rate. The prices increased for the subgroups of pre-primary and primary education (10.0 percent), secondary education (5.8 percent) and post-secondary nontertiary education (2.8 percent);
Miscellaneous goods and services: the prices for the group increased by 5.8 percent, contributing 0.3 percentage points to the overall index. Within the group, the prices were higher mainly for the following subgroups: personal effects n.e.c. (24.5 percent), insurance (12.9 percent), financial services n.e.c. (4.5 percent), personal care (1.8 percent).
