Inflation Rate at 2.7 in Georgia

The National Statistics Office of Georgia (GeoStat), released its Inflation Rate Report, saying in September 2018 the Consumer Price Index (CPI) increased by 0.3% and by 2.7% year on year.

According to the report, last month’s inflation rate was influenced by price changes for education, housing, water, electricity and gas, also health, non-alcoholic beverages, transport, footwear and clothing.

In particular, Geostat says the prices in the group of education increased by 3.7 percent, contributing 0.17 percentage points to the overall CPI change.

As for housing, water, electricity, gas and other fuels, the prices in the group increased by 1%, contributing 0.09 % to the overall CPI change.

Prices in the health field went up by 0.6 percent, contributing 0.05 percentage points to the overall CPI change.

The annual inflation rate was mainly influenced by price changes for the following groups:

Transport - prices in the group increased by 6.2% with a relevant contribution of 0.83 percentage points to the overall index growth;

Food and non-alcoholic beverages - increased by 1.8% contributing 0.55 percentage points to the annual inflation;

Housing, water, electricity, gas and other fuels – 4.4% increase contributing 0.38 percentage points to the annual inflation;

Health - prices increased by 5.7% which resulted in a 0.48 percentage point contribution to the overall annual inflation;

Alcoholic beverages and tobacco – prices up by 4.9% with a relevant contribution of 0.34 percentage points to the annual inflation.