Industry

Geostat reveals inflation rate in Georgia

The Consumer Price Index increased by 0.9 percent in April 2021 in Georgia compared to the previous month, while the annual inflation rate amounted to 7.2 percent, Trend reports citing the Georgian National Statistical Office (Geostat).

With regard to the annual core inflation, the prices increased by 6.93 percent, while the annual core inflation without tobacco amounted to 6.87 percent.

The monthly inflation rate was mainly influenced by price changes for the following groups:

Transport: the prices increased by 3 percent, contributing 0.39 percentage points to the overall monthly inflation rate. Within the group the prices increased for operation of personal transport equipment (4.2 percent);

Clothing and footwear: the prices for the group resulted in a 4.9 percent increase, with the relevant contribution of 0.16 percentage points to the monthly inflation rate. Within the groups the prices were higher for both footwear (9.9 percent) and clothing (1.9 percent);

Furnishings, household equipment and maintenance: the prices increased by 2.1 percent, contributing 0.11 percentage points to the overall monthly inflation rate. The prices were higher for the following subgroups: household appliances (4.2 percent), tools and equipment for house and garden (3.2 percent), furniture and furnishings, carpets and other floor coverings (1.6 percent);

Food and non-alcoholic beverages: the prices in the group increased by 0.3 percent, contributing 0.1 percentage points to the overall monthly inflation rate. The prices were higher for the following subgroups: fruit and grapes (5.3 percent), oils and fats (4.2 percent), fish (3.6 percent), sugar, jam, honey, chocolate and confectionery (2.4 percent), meat (1.9 percent), mineral waters, soft drinks, fruit and vegetable juices (1.1 percent). At the same time, the prices were lower for vegetables (-5.4 percent).

The annual inflation rate was mainly influenced by price changes for the following groups:

Transport: the prices increased by 12.4 percent, contributing 1.53 percentage points to the annual inflation rate. Within the group the prices increased for operation of personal transport equipment (17.8 percent) and transport services (1.9 percent);

Housing, water, electricity, gas and other fuels: the prices for the group posted a 7.1 percent increase, which contributed 1.14 percentage points to the annual inflation rate. The prices were higher for the following subgroups: electricity, gas and other fuels (8.1 percent), maintenance and repair of the dwelling (7 percent) and water supply and miscellaneous services relating to the dwelling (4.5 percent);

Health: the prices went up by 13.8 percent, contributing 1.04 percentage points to the overall annual inflation rate. The prices increased for medical products, appliances and equipment (21.4 percent) and out-patient services (12.1 percent);

Food and non-alcoholic beverages: the prices in the group increased by 3 percent, contributing 0.94 percentage points to the overall annual inflation rate.

Within the group the prices increased for the following subgroups: oils and fats (40.2 percent), sugar, jam, honey, chocolate and confectionery (12.3 percent), coffee, tea and cocoa (10.1 percent), fish (9.4 percent), bread and cereals (6.4 percent), mineral waters, soft drinks, fruit and vegetable juices (6.1 percent), milk, cheese and eggs (6.1 percent), meat (4.6 percent). Along with this, the prices decreased for vegetables (-22.2 percent) and fruit and grapes (-18.2 percent);

Restaurants and hotels: the prices were 15 percent higher, with a relevant contribution of 0.73 percentage points to the overall annual inflation rate. The prices increased for the subgroup of catering services (16.3 percent).

 

Source: TREND News Agency