Georgia sees mixed price changes on consumer products

According to the National Statistics Office, Georgia experienced varying price changes for different categories of goods and services in December 2023 while maintaining a low annual inflation rate of 0.4 per cent.

Food and non-alcoholic beverages saw an increase of 0.9 per cent in prices compared to the previous month, with the highest rises for vegetables (5.1 per cent), fruit and grapes (3.3 per cent), and milk, cheese and eggs (1.5 per cent). On the other hand, prices dropped for fish (-2.8 per cent), oils and fats (-1.8 per cent), and meat (-0.2 per cent).

Clothing and footwear became cheaper by 1.1 per cent in December, especially footwear (-5.3 per cent). Similarly, prices for furnishings, household equipment and maintenance went down by 0.9 per cent, with notable decreases for furniture and furnishings, carpets and other floor coverings (-2.8 per cent), goods and services for routine household maintenance (-2.2 per cent), and household appliances (-0.9 per cent). Household textiles, glassware, tableware, and household utensils also became more affordable by three per cent and 2.7 per cent, respectively.

The consumer price index, which measures the average change in prices paid by consumers for a basket of goods and services, increased slightly by 0.1 per cent in December. 

The annual inflation rate, which reflects the percentage change in the consumer price index over a year, was 0.4 per cent in 2023. This was mainly influenced by price changes for transport (+5.1 per cent), miscellaneous goods and services (+10.1 per cent), food and non-alcoholic beverages (-2.7 per cent) and healthcare (-3.8 per cent).

National Statistics Office of Georgia

It is an institution established to produce the statistics and disseminate the statistical information according to the Georgian legislation. The Law of Georgia sets National Statistics Office of Georgia, dd 11 December 2009, on Official Statistics.

The primary function of the National Statistics Office is to collect, compile and release official statistics that are produced “subject to the principles of reliability, objectivity, relevance, statistical confidentiality, transparency, specificity and proportionality.”