In March 2023 the Consumer Price Index decreased by 0.2% compared to the previous month, while the annual inflation rate amounted to 5.3%. With regard to the annual core inflation, the prices increased by 5.0 percent, while the annual core inflation without tobacco also amounted to 5%, - according to 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 11.8 percent, contributing 3.91 percentage points to the overall annual inflation rate. Within the group the prices increased for the following subgroups: vegetables (28.8 percent), bread and cereals (16.8 percent), milk, cheese and eggs (13.6 percent), fish (10.9 percent), meat (10.4 percent), mineral waters, soft drinks, fruit and vegetable juices (10.1 percent), coffee, tea and cocoa (8.7 percent), sugar, jam, honey, chocolate and confectionery (2.7 percent). At the same time, prices decreased for the subgroup of fruit and grapes (-2.4 percent);
Housing, water, electricity, gas and other fuels: the prices for the group posted a 11.1 percent increase, which contributed 1.15 percentage points to the annual inflation rate. The prices were higher for the following subgroups: actual rentals for housing (35.1 percent), maintenance and repair of the dwelling (5.8 percent);
Transport: the prices for the group decreased by 8.0 percent, contributing -1.0 percentage points to the overall index. Within the group the prices decreased for the following subgroups: operation of personal transport equipment (-15.0 percent), purchase of vehicles (-3.2 percent). At the same time, prices increased for transport services (13.9 percent);
Health: the prices for the group decreased by 9.1 percent, with the relevant contribution of -0.92 percentage points to the annual inflation rate. Within the group, the prices were lower for medical products, appliances and equipment (-20.5 percent). At the same time, prices increased for out-patient services (11.2 percent) and hospital services (7.5 percent).
