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Geostat reports 1.3% annual deflation in September

Monday, October 7
Annual inflation remained below zero at -1.3% in September after 0.4% deflation in August, according to the National Statistics Office of Georgia (Geostat).

Prices dipped 0.1% on a monthly basis in September, Geostat said on October 3.

Annual inflation was in the negative for most of the last twenty months (there were only a couple of exemptions when the annual inflation rate rose slightly above zero in July, 2012 and June of 2013).

Prices for healthcare services and in the transport grouping declined 5.9% and 4.9%, respectively y/y in September. Prices on food and non-alcoholic beverages were down by 1.6% y/y.

Prices on alcoholic drinks and cigarettes increased 6.6% y/y in September.

In late September the Monetary Policy Committee of the National Bank of Georgia kept its key rate unchanged at 3.75%.