GEOSTAT publishes report on inflation rate in Georgia

The National Statistics Office of Georgia (GEOSTAT) has published a report on the inflation rate in Georgia in January 2020.

According to the report, in January 2020 the Consumer Price Index increased by 0.7 percent compared to the previous month, while the annual inflation rate amounted to 6.4 percent.

In the same period, the inflation rate without tobacco amounted to 0.6 percent over the previous month, while the prices increased by 5.9 percent compared to the same month of the previous year.

With regard to the annual core inflation, the prices increased by 4.4 percent, while the annual more inflation without tobacco amounted to 3.4 percent.

The monthly inflation rate was mainly influenced by price changes for food and non-alcoholic beverages. The prices in the group increased by 2.3 percent, contributing 0.76 percentage points to the overall monthly inflation rate. Within the group the prices were higher for the following subgroups: vegetables (8.6 percent), milk, cheese and eggs (6.1 percent), oils and fats (4.2 percent), fruit and grapes (3.0 percent), coffee, tea and cocoa (0.6 percent), meat (0.4 percent). The prices decreased for mineral waters, soft drinks, fruit and vegetable juices (-1.2 percent).

Alcoholic beverages and tobacco: the prices went up by 1.8 percent, contributing 0.12 percentage points to the overall monthly inflation rate. The prices increased for tobacco (3.5 percent) and alcoholic beverages (0.6 percent); Recreation and culture: the prices decreased by 4.5 percent, contributing -0.18 percentage points to the overall monthly inflation rate. The prices in the group were lower for tourist trips (-16.7 percent).

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 11.3 percent, contributing 3.57 percentage points to the overall annual inflation rate. Within the group the prices were higher for the following subgroups: fruit and grapes (28.3 percent), milk, cheese and eggs (15.0 percent), meat (14.2 percent), fish (12.4 percent), sugar, jam, honey, chocolate and confectionery (10.5 percent), oils and fats (8.1 percent), mineral waters, soft drinks, fruit and vegetable juices (7.8 percent), vegetables (7.0 percent), coffee, tea and cocoa (5.4 percent), bread and cereals (5.1 percent).

Alcoholic beverages and tobacco: the prices increased by 11.2 percent, with a relevant contribution of 0.76 percentage points to the overall annual CPI growth. The prices increased for tobacco (20.3 percent) and alcoholic beverages (3.4 percent).

Transport: the prices went up by 3.3 percent, which resulted in a 0.39 percentage point contribution to the overall annual inflation rate. The prices were higher for purchase of vehicles (4.2 percent), operation of personal transport equipment (3.6 percent) and transport services (2.9 percent).

The National Statistics Office of Georgia, the legal entity of public law, carries out its activities independently. The institution presents the statistics and disseminates the statistical information according to the Georgian legislation. The National Statistics Office of Georgia is established by the Law of Georgia, 11 December 2009, on Official Statistics.