May 2024 the Consumer Price Index increased by 0.4% compared to the previous month, while the annual inflation rate amounted to 2%, - according to the preliminary data from the National Statistics Office of Georgia(Geostat).
With regard to the annual core inflation, the prices increased by 1.7%, while the annual core inflation without tobacco also amounted to 1.7%.
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 0.7 percent, contributing 0.22 percentage points to the overall annual inflation rate. Within the group the prices increased for the following subgroups: fruit and grapes (38.1 percent), vegetables (4.5 percent), mineral waters, soft drinks, fruit and vegetable juices (4.0 percent), sugar, jam, honey, chocolate and confectionery (2.5 percent), coffee, tea and cocoa (2.0 percent), meat (1.0 percent). At the same time, the prices decreased for the following subgroups: oils and fats (-14.9 percent), bread and cereals (-5.1 percent), milk, cheese and eggs (-2.1 percent).
Transport: the prices for the group increased by 12.3 percent, contributing 1.44 percentage points to the overall index. Within the group the prices increased for operation of personal transport equipment (17.6 percent), purchase of vehicles (4.7 percent) and transport services (3.4 percent);
Restaurants and hotels: the prices went up by 7.7 percent, contributing 0.25 percentage points to the overall annual inflation rate. The prices in the group increased for accommodation services (11.0 percent) and catering services (7.0 percent);
Alcoholic beverages and tobacco: the prices increased by 3.5 percent, with the relevant contribution of 0.24 percentage points to the overall annual inflation rate. The prices increased for both alcoholic beverages (4.5 percent) and tobacco (2.5 percent).
