Consumer Price Index increased by 0.3 percent in Georgia
By Nika Gamtsemlidze
Wednesday, March 4
GEOSTAT published a report on the inflation rate in Georgia. According to the report, in February 2020, the Consumer Price Index increased by 0.3 percent compared to the previous month, while the annual inflation rate amounted to 6.4 percent. With regard to the annual core inflation, the prices increased by 4.6 percent, while the annual core inflation without tobacco amounted to 3.8 percent.
The monthly inflation rate was mainly influenced by price changes for the following groups:
Food and non-alcoholic beverages- the prices in the group increased by 1.3 percent, contributing 0.4 percentage points to the overall monthly inflation rate. Within the group the prices were higher for the following subgroups: vegetables (8.0 percent), fruit and grapes (3.6 percent), mineral waters, soft drinks, fruit and vegetable juices (1.7 percent), sugar, jam, honey, chocolate and confectionery (0.7 percent).
In addition, the prices decreased for oils and fats (-0.6 percent) and milk, cheese and eggs (-0.3 percent); Clothing and footwear: the prices decreased by 3.1 percent, contributing -0.11 percentage points to the overall monthly inflation rate. The prices went down for both footwear (-6.0 percent) and clothing (-1.4 percent);
Transport: the prices decreased by 0.7 percent, which resulted in a -0.08-percentage point contribution to the overall annual inflation rate. The prices decreased for purchase of vehicles (-1.2 percent) and operation of personal transport equipment (-1.0 percent).
For the annual inflation rate, it mainly influenced by price changes for the following groups: Food and non-alcoholic beverages: the prices in the group increased by 12.7 percent, contributing 3.95 percentage points to the overall annual inflation rate. Within the group, the prices were higher for the following subgroups: fruit and grapes (25.1 percent), milk, cheese and eggs (19.2 percent), meat (15.1 percent), sugar, jam, honey, chocolate and confectionery (11.2 percent), vegetables (11.1 percent), fish (10.3 percent), mineral waters, soft drinks, fruit and vegetable juices (8.7 percent), oils and fats (7.4 percent), bread and cereals (5.6 percent) and coffee, tea and cocoa (5.0 percent);
For restaurants and hotels, the prices went up by 8.7 percent, contributing 0.39 percentage points to the overall annual inflation rate. The prices in the group increased for catering services (9.5 percent) and accommodation services (1.3 percent).
