ECONOMY
04.11.19 14:15
The Consumer Price Index increased by 0.8 percent in October, 2019 compared to the previous month, while the annual inflation rate amounted to 6.9 percent, the Georgian National Statistics Office (Geostat) said on Monday.
According to Geostat, in the same period the inflation rate without tobacco1 amounted to 0.8 percent over the previous month, while the prices increased by 6.2 percent compared to the same month of previous year.
With regard to the annual core inflation, the prices increased by 4.7 percent, while the annual core inflation without tobacco3 amounted to 3.4 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 went up by 13.5 percent, contributing 4.02 percentage points to the overall annual inflation rate. The prices were higher for the following subgroups: fruit and grapes (26.9 percent), milk, cheese and eggs (16.0 percent), fish (15.8 percent), meat (14.7 percent), sugar, jam, honey, chocolate and confectionery (13.7 percent), vegetables (12.4 percent), also bread and cereals (11.0 percent); Alcoholic beverages and tobacco: the prices increased by 13.8 percent, with a relevant contribution of 0.92 percentage points to the overall annual CPI growth. The prices were higher for tobacco (26.8 percent) and for alcoholic beverages (3.0 percent); Recreation and culture: the prices rose by 7.3 percent, contributing 0.41 percentage points to the overall annual inflation rate. The prices in the group increased for recreational and cultural services (6.3 percent); Transport: the prices increased by 3.0 percent, which resulted in a 0.36 percentage point contribution to the overall annual inflation rate. The prices were higher for purchase of vehicles (8.1 percent), operation of personal transport equipment (3.1 percent) and transport services (1.7 percent); Restaurants and hotels: the prices went up by 6.9 percent, contributing 0.3 percentage points to the overall annual inflation rate. The prices in the group increased for catering services (8.3 percent).
source: IPN
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