In July 2024 the Consumer Price Index decreased by 0.4 percent compared to the previous month, while the annual inflation rate amounted to 1.8%.
With regard to the annual core inflation, the prices increased by 1.2 percent, while the annual core inflation without tobacco amounted to 1.1%,- according to the preliminary data from the National Statistics Office of Georgia (Geostat).
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 1.4 percent, contributing 0.48 percentage points to the overall annual inflation rate. Within the group the prices increased for the following subgroups: fruit and grapes (22.5 percent), sugar, jam, honey, chocolate and confectionery (5.7 percent), coffee, tea and cocoa (4.9 percent), mineral waters, soft drinks, fruit and vegetable juices (3.5 percent), vegetables (2.7 percent), meat (0.9 percent). At the same time, the prices decreased for the following subgroups: oils and fats (-3.8 percent), bread and cereals (-2.5 percent);
Transport: the prices for the group increased by 9.4 percent, contributing 1.12 percentage points to the overall index. Within the group the prices increased for operation of personal transport equipment (12.3 percent), transport services (5.6 percent) and purchase of vehicles (3.3 percent);
Alcoholic beverages and tobacco: the prices increased by 4.3 percent, with the relevant contribution of 0.29 percentage points to the overall annual inflation rate. The prices increased for both alcoholic beverages (5.7 percent) and tobacco (2.6 percent); Housing, water, electricity, gas and other fuels: the prices for the group decreased by 2.8%, contributing -0.22 percentage points to the overall index. The prices were lower for the subgroup of electricity, gas and other fuels (-5.3 percent).
Housing, water, electricity, gas and other fuels: the prices for the group decreased by 2.8 percent, contributing -0.22 percentage points to the overall index. The prices were lower for the subgroup of electricity, gas and other fuels (-5.3 percent).
