In December 2022 the Consumer Price Index decreased by 0.3 percent compared to the previous month, while the annual inflation rate amounted to 9.8 percent, reads the recent publication of the National Statistics Office of Georgia (GeoStat).
With regard to the annual core inflation, the prices increased by 6.9 percent, while the annual core inflation without tobacco amounted to 6.8 percent.
The monthly inflation rate was mainly influenced by price changes for the following groups:
Transport: the prices for the group decreased by 2.7 percent, contributing -0.31 percentage points to the overall index. Within the group the prices decreased for the following subgroups: transport services (-2.9 percent), operation of personal transport equipment (-2.8 percent), purchase of vehicles (-1.5 percent);
Food and non-alcoholic beverages: the prices for the group increased by 0.4 percent, contributing 0.13 percentage points to the overall monthly inflation rate. The prices increased for the following subgroups: vegetables (3.0 percent), fish (2.1 percent), milk, cheese and eggs (1.2 percent). At the same time, prices decreased for the subgroup of oils and fats (-2.0 percent) and fruit and grapes (-1.1 percent);
Housing, water, electricity, gas and other fuels: the prices increased by 0.8 percent, contributing 0.09 percentage points to the overall monthly inflation rate. The prices were higher mainly for actual rentals for housing (2.1 percent);
Alcoholic beverages and tobacco: the prices increased by 1.2 percent, with the relevant contribution of 0.08 percentage points to the overall inflation rate. The prices increased for tobacco (2.2 percent).
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 16.3 percent, contributing 5.41 percentage points to the overall annual inflation rate. Within the group the prices increased for the following subgroups: vegetables (27.4 percent), bread and cereals (22.1 percent), mineral waters, soft drinks, fruit and vegetable juices (21.4 percent), coffee, tea and cocoa (18.4 percent), milk, cheese and eggs (17.5 percent), sugar, jam, honey, chocolate and confectionery (14.1 percent), fish (13.4 percent), meat (9.7 percent), oils and fats (6.8 percent), fruit and grapes (6.4 percent);
Housing, water, electricity, gas and other fuels: the prices for the group posted a 15.8 percent increase, which contributed 1.58 percentage points to the annual inflation rate. The prices were higher for the following subgroups: actual rentals for housing (37.4 percent), maintenance and repair of the dwelling (10.9 percent), electricity, gas and other fuels (5.1 percent);
Transport: the prices for the group increased by 5.5 percent, contributing 0.64 percentage points to the overall index. Within the group the prices increased for transport services (11.6 percent) and operation of personal transport equipment (5.2 percent);
Alcoholic beverages and tobacco: the prices increased by 9.3 percent, with the relevant contribution of 0.62 percentage points to the overall annual inflation rate. The prices increased for both alcoholic beverages (10.8 percent) and tobacco (7.6 percent).
