Prices on food products, housing and health care increased in November

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On 3 December, the Georgian National Statistics Service (Geostat) published an indicator of inflation for November, which shows 0.5% increase in the rate of inflation as compared to the previous month. Moreover, November saw the increase in prices for certain commodities and services which make up the consumer basket.

According to Geostat, the increase in inflation was mainly caused by changes in price for food products and soft drinks. In this group of commodities, prices increased by 1.5%, thus contributing to the increase of total inflation by 0.44 percentage points. In November prices increased on the following food products: vegetables and legumes (10.2%), and milk, cheese and eggs (3.5%). At the same time, prices decreased on fruit and grapes (5.7%).

Over the same period, the 0.5% increase was observed in prices for health care. Consequently, the contribution of this group to the increase in November inflation rate was 0.05 percentage points. Prices, in this group, increased on pharmaceuticals too (1.5%).

According to Geostat, inflation in Georgia in November 2013 comprised 0.6% as compared to the corresponding period in 2012. The change in the annual inflation rate was conditioned by the fluctuation in prices on the following commodity groups:

  • Alcoholic drinks and tobacco products, which contributed to the increase of inflation indicator by 0.45 percentage point. A notable increase within the group was observed on tobacco products (13.8%);
  • Housing, water, electricity, natural gas: prices increased by 3.4% over the accounting period with the group contribution to the total indicator of inflation comprising 0.29%. Price increase was observed in maintenance and repair of housing (7.3%), actual housing fee (3.9%);
  • Prices on commodities falling under the transportation group decreased by 3.2%, with its contribution to the inflation rate making up -0.42 percentage points. Prices decreased on the purchase of transportation means by 10.8% and exploitation of personal vehicles by 3.4%.

 

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