Economy of Georgia

1% Price Hikes Compared to Last Month, 1.8% Compared to Last Year

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In December 2016, inflation rose by 1% compared to November of 2016. In comparison to November of 2015, inflation was 1.8% higher.

According to Geostat’s report, consumer price indexes were 19% higher than in comparison with 2010.

The report says that prices have changed significantly for vegetables - 9.2%, cheese and eggs - 2.9%, meat and meat - derived products - 2%.

Price hikes also affected the transport industry. Vehicle prices have risen by 8.5%, and vehicle maintenance by 3%.

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 13.1%, the price of other tobacco products were raised by 23.2%; other alcoholic beverages by 4.6%.

Prices for non-alcoholic beverages and food are higher by 1.6%, however if we look at the subcategory, which includes sugar, jam, honey, chocolate and other comestibles, prices in this category are 16.3% higher.

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