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Friday, February 3, 2023

Georgia: In June, the annual inflation rate was 12.8%

Georgia: As per the report published by the National Statistics Office of Georgia (GEOSTAT), in June 2022, compared to May, inflation increased by 0.2%, and the annual inflation level was 12.8%. 

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Georgia: As per the report published by the National Statistics Office of Georgia (GEOSTAT), in June 2022, compared to May, inflation increased by 0.2%, and the annual inflation level was 12.8%. 

The formation of the monthly inflation index was mainly influenced by price changes in the following groups:

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Hotels, cafes and restaurants: the group recorded a 2.3 percent increase in prices, which was reflected in the month’s inflation by 0.1 percentage points.

Prices have increased for overnight accommodation services (5.5 percent) and public catering (2.0 percent ) ;

Food and non-alcoholic beverages: prices in the group increased by 0.1 percent, which reflected the month’s inflation by 0.08 percentage points.

Prices increased for the following subgroups :

fruits and grapes (2.2 percent), coffee, tea and cocoa (1.2 percent), bread and bakery products (1.0 percent), oil and fat (0.9 percent). At the same time, the prices of vegetables and garden vegetables decreased (-4.2 percent);

Alcoholic beverages and tobacco: prices in the group increased by 0.7 percent, which was reflected by 0.05 percentage points in the increase of the overall index. Prices increased for the alcoholic beverages (1.4 percent) subgroup;

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Healthcare: Prices in the group decreased by 0.4 percent, which contributed -0.04 percentage points to the overall index. A decrease in prices was recorded for the subgroup of medical products, equipment and devices (-0.8 percent). 

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