According to the National Statistics Office of Georgia - Geostat, the annual inflation rate in March 2017 amounted to 5.4%, which exceeds the targeted 4% indicator of the National Bank of Georgia. In February 2017, inflation amounted to 5.5%.
Prices rose the most in the transport sector by 18% in March 2017. This is partly due to the rise of excise taxes. There was also a 16% rise in prices for alcoholic beverages and tobacco products, also connected to the rise of excise taxes.
Price increases in Georgia in March 2017 y/y:
- Food and non-alcoholic beverages - 5.4% more expensive
- Alcoholic beverages and tobacco - 16% more expensive
- Clothing and footwear - 4% less expensive
- Housing, water, electricity, gas and other fuels - 0.7% more expensive
- Furnisher, household equipment and maintenance - 0.9% less expensive
- Health - 4.2% more expensive
- Transport - 18.7% more expensive
- Communication - 0.6% more expensive
- Recreation and culture - 0.1% more expensive
- Education - 1.3% more expensive
- Restaurants and hotels - 1% more expensive
- Miscellaneous goods and services - 2.2% more expensive