The inflation rate in Georgia stood at 0.1 percent in December 2023, compared to the previous month, while the annual inflation rate amounted to 0.4 percent. According to Geostat, food prices in the largest consumer group decreased by 2.7% year-on-year.
According to the Georgian Statistic Office, in 2023, compared to last year, the prices of milk, cheese, eggs, bread and bakery products, oil and fat, vegetables and sugar decreased.
In addition, the prices of non-alcoholic drinks and natural juices, fruits, meat and meat products, outpatient medical services and hospital services have increased compared to the previous year.
“The annual inflation rate was mainly influenced by price changes for the following groups: Transport: the prices for the group increased by 5.1 percent, contributing 0.65 percentage points to the overall index. Within the group the prices increased for transport services (7.8 percent), purchase of vehicles (6.0 percent) and operation of personal transport equipment (3.7 percent); Miscellaneous goods and services: the prices for the group increased by 10.1 percent, contributing 0.53 percentage points to the overall index. Within the group, the prices were higher mainly for the following subgroups: financial services n.e.c. (26.3 percent), personal effects n.e.c. (6.1 percent), personal care (5.7 percent); Food and non-alcoholic beverages: the prices for the group decreased by 2.7 percent, contributing -0.92 percentage points to the overall annual inflation rate. The prices decreased for the following subgroups: oils and fats (-19.2 percent), vegetables (-9.8 percent), bread and cereals (-8.0 percent), milk, cheese and eggs (-3.3 percent), sugar, jam, honey, chocolate and confectionery (-3.1 percent). At the same time, the prices increased for the following subgroups: fruit and grapes (17.3 percent), meat (5.6 percent), mineral waters, soft drinks, fruit and vegetable juices (3.3 percent); Health: the prices for the group decreased by 3.8 percent, with the relevant contribution of -0.37 percentage points to the annual inflation rate. Within the group, the prices were lower for medical products, appliances and equipment (-8.9 percent). At the same time, prices increased for outpatient services (5.8 percent) and hospital services (5.6 percent)”, reads the information.
