GEOSTAT publishes inflation rate for December 2019
By Levan Abramishvili
Thursday, January 9
According to GEOSTAT, in December 2019, the Consumer Price Index (CPI) increased by 0.4% compared to the previous month, while the annual inflation rate amounted to 7.0 percent. In the same period, the inflation rate without tobacco amounted to 0.4 percent over the previous month, while the prices increased by 6.3 percent compared to the same month of the previous year.
The monthly inflation rate was mainly influenced by price changes for the groups of food and non-alcoholic beverages; housing, water, electricity, gas and other fuels; and transport.
In the group of food and non-alcoholic beverages, the prices in the group increased by 1.4 percent, contributing 0.44 percentage points to the overall monthly inflation rate. Within the group, the prices were higher for the following subgroups: vegetables (3.7 %), fruit and grapes (2.9 %), meat (2.3 %), fish (2.1 %), milk, cheese and eggs (1.1 %). Furthermore, prices decreased for the group of sugar, jam, honey, chocolate and confectionery (-1.0 %).
Prices in housing, water, electricity, gas and other fuels category increased by 1.0%, contributing 0.09 percentage points to the overall monthly inflation rate. The prices rose for maintenance and repair of the dwelling (2.0 %) and electricity, gas and other fuels (0.9 %).
Prices in the transport group decreased by 0.7 %, with a relevant contribution of -0.09 percentage points to the overall monthly inflation rate. Prices within the category decreased for purchase of vehicles (-2.4 %) and transport services (-2.1 %).
The annual inflation rate was mainly influenced by price changes for the categories of food and non-alcoholic beverages; alcoholic beverages and tobacco; recreation and culture; transport; and restaurants and hotels.
Annual prices in the food and non-alcoholic beverage category went up by 12.3 percent, contributing 3.78 percentage points to the overall annual inflation rate. The prices were higher for the following subgroups: fruit and grapes (31.9 %), meat (14.8 %), fish (14.2 %), vegetables (14.1 %), milk, cheese and eggs (13.5 %), sugar, jam, honey, chocolate and confectionery (10.7 %), mineral waters, soft drinks, fruit and vegetable juices (9.1 %), bread and cereals (6.6 %), coffee, tea and cocoa (5.0 %), oils and fats (4.6 %).
The prices increased by 15.6 percent in the alcoholic beverages and tobacco group, with a relevant contribution of 1.03 percentage points to the overall annual CPI growth. The prices were higher for tobacco (30.8 %) and for alcoholic beverages (3.1 %);
The prices in the recreation and culture category rose by 6.9 percent, contributing 0.4 percentage points to the overall annual inflation rate. The prices in the group increased for tourist trips (13.6%), other major durables for recreation and culture (7.4%), also for recreational and cultural services (1.8%).
In the transport category, the prices increased by 2.9 %, which resulted in a 0.35 percentage point contribution to the overall annual inflation rate. The prices were higher for the purchase of vehicles (4.6%), operation of personal transport equipment (3.5%) and transport services (1.2%).
The prices went up by 7.9 percent in the restaurants and hotels category, contributing 0.34 percentage points to the overall annual inflation rate. The prices in the group increased for catering services (9.0%).
GEOSTAT (National Statistics Office of Georgia) is a legal entity of public law and carries out its activities independently. It is a body set up to produce and disseminate statistics in accordance with Georgian law.