07.თებერვალი .2022 00:16

NBG's supervisory priorities / Interview with Papuna Lezhava

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In January 2022 the Consumer Price Index increased by 1.1 percent compared to the previous month, while the annual inflation rate amounted to 13.9 percent. With regard to the annual core inflation, the prices increased by 5.6 percent, while the annual core inflation without tobacco also amounted to 5.6 percent. The following table shows percentage changes in prices for the commodity groups of the consumer basket as well as the relevant contributions to the overall monthly inflation rate.

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 16.2 percent, contributing 5.27 percentage points to the overall annual inflation rate. Within the group the prices increased for the following subgroups: vegetables (23.3 percent), bread and cereals (20.5 percent), oils and fats (19.6 percent), mineral waters, soft drinks, fruit and vegetable juices (18.3 percent), sugar, jam, honey, chocolate and confectionery (18.2 percent), fish (16.6 percent), milk, cheese and eggs (14.4 percent), fruit and grapes (13.7 percent), meat (11.9 percent), coffee, tea and cocoa (7.8 percent);


Housing, water, electricity, gas and other fuels: the prices for the group posted a 44.8 percent increase, which contributed 3.69 percentage points to the annual inflation rate. The prices were higher for the following subgroups: electricity, gas and other fuels (68.0 percent), water supply and miscellaneous services relating to the dwelling (58.0 percent), maintenance and repair of the dwelling (8.7 percent). In the same period prices were lower for actual rentals for housing (-3.1 percent);

Transport: the prices increased by 16.2 percent, contributing 2.08 percentage points to the annual inflation rate. Within the group the prices increased for operation of personal transport equipment (23.3 percent).

The Checkpoints set down with the interview with the Deputy Governor of the National Bank of Georgia Papuna Lezhava.