Georgia's annual inflation rate hits 2.4%

12:58, 04.01.2021

The Consumer Price Index (Inflation) dropped by 1.0 % in December 2020 compared to the previous month, while the annual inflation rate reached 2.4 %, Georgia’s National Statistics Office (GeoStat) reported on Monday.

In the annual core inflation, the prices increased by 5.3%. The annual core inflation rate without tobacco totalled 4.9 %, GeoStat said.

The price changes in water supply and different services related to dwelling (-36.5 %) and electricity, gas, and other fuels (-30.2 %) mainly influenced the monthly inflation rate.

The annual inflation rate was affected by the price changes in food and non-alcoholic beverages (+6.8%), health (+9.6), furnishings, household equipment and maintenance (+9.5%), alcoholic beverages, and tobacco (+8.6.%).

In terms of housing, water, electricity, gas, and other fuels, the prices dwindled by 21.7%.

By - Marika Kartozia

Economics

annual inflation rate