Inflation

Geostat: Annual Inflation Rate in January 2017 was 3.9%

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According to Geostat, in January 2017, inflation rose by 2.9% compared to the previous month. In comparison to January of 2016, inflation was 3.9% higher, whereas to the average of 2010, the index is higher by 22.5%.

Geostat published its January 2017 report on February 3.

The report says that in comparison to December 2016, prices have increased significantly for vegetables - 22.4%, cheese and eggs - 3.1%, meat and meat--derived products - 2.5%.

Price hikes also affected the transport industry. Compared to January 2016, vehicle prices have risen by 7.2% and vehicle maintenance by 10.1%, whereas buying a car is more expensive by 4.9%.

The rise in prices on alcoholic beverages and tobacco, food, non-alcoholic beverages, transport and clothes influenced the formation of the annual inflation indicator.

Prices on alcoholic beverages and tobacco were raised by 18.9%, the price of other tobacco products were raised by 40.2%.

Prices for non-alcoholic beverages and food are higher by 3.3%. However if we look at the subcategory which includes sugar, jam, honey, and chocolate, prices in this category are 16% higher.

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