Inflation

Inflation Rate in Georgia in June 2017 Increased 7.1% y/y

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Photo: ეროვნული ბანკი

In June 2017, monthly inflation in Georgia increased 7.1%, a record increase since August 2011.

According to GeoStat, price increases were especially high for the transportation sector, which experienced a 15.3% increase in inflation from the previous year. Prices for food and alcoholic beverages also increased at a high rate.

In Food and Non-Alcoholic Beverages: Prices increased 9.5%, comprising 2.87% of the total Consumer Price Index increase. Prices increased for the following subgroups: vegetables (33.7%), fruit and grapes (15.7%), milk, cheese and eggs (11%), sugar, jam, honey, chocolate and confectionery (10.4%), coffee, tea and cocoa (5.3%).

In Health: Prices increased by 7.4%, comprising 0.66% of the total Consumer Price Index increase. Prices increased for the following subgroups: medical products, appliances, and equipment (21.3%) and outpatient services (5.4%).

Transport: Prices increased by 15.3%, comprising 1.92% of the total Consumer Price Index increase. Prices increased for the following subgroups: operation of personal transport equipment (21%), purchase of vehicles (12.9%) and transport services (4.6%);

Alcoholic, Beverages and Tobacco: Prices increased by 18.2%, comprising 1.18% of the total Consumer Price Index increase. Tobacco prices increased by 36.8% and alcoholic beverages increased by 3%.

Photo: GeoStat / http://www.geostat.ge/cms/site_images/_files/english/price/CPI Press Release_06 2017_Eng.pdf

 

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