In August 2024 the Consumer Price Index decreased by 0.1% compared to the previous month, while the annual inflation rate amounted to 1%, - according to the preliminary data from the National Statistics Office of Georgia (Geostat). With regard to the annual core inflation , the prices increased by 0.9%, while the annual core inflation without tobacco also amounted to 0.9%.
The annual inflation rate was mainly influenced by price changes for the following groups:
Transport: the prices for the group increased by 7.4 percent, contributing 0.89 percentage points to the overall index. Within the group the prices increased for operation of personal transport equipment (9.7 percent), transport services (5.3 percent) and purchase of vehicles (1.5 percent);
Alcoholic beverages and tobacco: the prices increased by 4.5 percent, with the relevant contribution of 0.31 percentage points to the overall annual inflation rate. The prices increased for both alcoholic beverages (6.4 percent) and tobacco (2.2 percent);
Housing, water, electricity, gas and other fuels: the prices for the group decreased by 2.6 percent, contributing -0.21 percentage points to the overall index. The prices were lower for the subgroup of electricity, gas and other fuels (-5.2 percent); Communication: the prices decreased by 12.7 percent, contributing -0.48 percentage points to the overall index.
