POLITICS

In September 2022, annual inflation rate amounted to 11.5% in Georgia

03.10.22 11:40


In September 2022 the Consumer Price Index increased by 0.8 percent compared to the previous month, while the annual inflation rate amounted to 11.5 percent, National Statistics Office of Georgia (Geostat) reports.

 

According to Geostat, with regard to the annual core inflation, the prices increased by 7.5 percent, while the annual core inflation without tobacco also amounted to 7.5 percent.

 

"The monthly inflation rate was mainly influenced by price changes for the following groups: Food and non-alcoholic beverages: the prices for the group increased by 1.7 percent, contributing 0.62 percentage points to the overall monthly inflation rate. The prices increased for the following subgroups: vegetables (7.6 percent), milk, cheese and eggs (4.6 percent), mineral waters, soft drinks, fruit and vegetable juices (2.3 percent), fruit and grapes (2.0 percent), fish (1.4 percent). At the same time, prices decreased for the following subgroups: sugar, jam, honey, chocolate and confectionery (-1.4 percent), oils and fats (-1.1 percent); Education: the prices for the group increased by 7.5 percent, contributing 0.32 percentage points to the overall index. The prices increased for the following subgroups: secondary education (11.6 percent), education not definable by level (8.6 percent), pre-primary and primary education (6.1 percent); Health: the prices for the group decreased by 2.0 percent, contributing -0.18 percentage points to the overall index. Within the group, the prices were lower for medical products, appliances and equipment (-3.6 percent); Transport: the prices for the group decreased by 1.3 percent, contributing -0.15 percentage points to the overall index. Within the group the prices decreased for operation of personal transport equipment (-1.6 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 17.6 percent, contributing 5.74 percentage points to the overall annual inflation rate. Within the group the prices increased for the following subgroups: bread and cereals (32.8 percent), milk, cheese and eggs (23.3 percent), mineral waters, soft drinks, fruit and vegetable juices (22.5 percent), oils and fats (21.2 percent), coffee, tea and cocoa (18.9 percent), fish (16.5 percent), sugar, jam, honey, chocolate and confectionery (15.8 percent), meat (9.8 percent), fruit and grapes (9.6 percent); Transport: the prices in the group increased by 14.1 percent, contributing 1.69 percentage points to the overall index. Within the group the prices increased for operation of personal transport equipment (16.8 percent) and transport services (13.7 percent); Housing, water, electricity, gas and other fuels: the prices for the group posted a 12.2 percent increase, which contributed 1.18 percentage points to the annual inflation rate. The prices were higher for the following subgroups: actual rentals for housing (24.3 percent), maintenance and repair of the dwelling (12.5 percent), electricity, gas and other fuels (5.8 percent)," reads the report.

 

 

 

source: IPN 

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