Inflation Stood At 11.3% In August By Harmonised Index of Consumer Prices
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According to the Harmonized Index of Consumer Prices (HICP), inflation amounted to 11.3% in August
As of the Harmonized Index of Consumer Prices published by the National Statistics Office of Georgia (Geostat), the prices of food and non-alcoholic beverages increased the most in August, where the annual growth made up 16%, followed by restaurants, hotels and cafes with an annual increase of 15.8%.
According to the new index, prices for transport also increased by 15.8% y-o-y. It should be noted that no price decrease is recorded in any group in annual terms.
Compared to the previous month, the level of inflation in Georgia according to the harmonized price index was 0.2%. In monthly terms, the prices increased the most by 2.4% in the HoReCa sector.
According to Geostat, the harmonized index takes into account the expenses incurred by both residents and non-residents within the country. In this case, the attention is also focused on the consumer expenses of tourists.