Georgia's annual inflation rate reaches 12.8 % in October 2021
Georgia's annual inflation rate reaches 12.8 % in October 2021

In October 2021 the Consumer Price Index increased by 1.3 per cent compared to the previous month, while the annual inflation rate amounted to 12.8 per cent, Georgia’s National Statistics Office (GeoStat) reported on Wednesday.

According to the GeoStat, the monthly inflation rate was mainly influenced by price changes for the following groups:

  • Food and non-alcoholic beverages: the prices for the group increased by 3.0 per cent, contributing 0.96 percentage points to the overall monthly index change. The prices were higher for the following subgroups: vegetables (9.0 per cent), bread and cereals (5.5 per cent), fish (4.2 per cent), milk, cheese and eggs (3.6 per cent), sugar, jam, honey, chocolate and confectionery (1.2 per cent). Along with this, the prices decreased for fruit and grapes (-1.1 per cent);
  • Clothing and footwear: the prices for the group posted a 9.2 per cent increase, with the relevant contribution of 0.29 percentage points to the monthly inflation rate. Within the group, the prices were higher for footwear (17.8 per cent), as well as clothing (3.7 per cent)

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

  • Food and non-alcoholic beverages: the prices in the group increased by 18.4 per cent, contributing 5.73 percentage points to the overall annual inflation rate. Within the group the prices increased for the following subgroups: vegetables (43.0 per cent), oils and fats (31.6 per cent), bread and cereals (19.4 per cent), milk, cheese and eggs (18.2 per cent), sugar, jam, honey, chocolate and confectionery (18.0 per cent), fish (16.0 per cent), mineral waters, soft drinks, fruit and vegetable juices (13.0 per cent), meat (11.2 per cent), fruit and grapes (9.3 per cent), coffee, tea and cocoa (6.4 per cent);
  • Transport: the prices increased by 19.6 per cent, contributing 2.4 percentage points to the annual inflation rate. Within the group, the prices increased for the operation of personal transport equipment (28.9 per cent) and transport services (2.8 per cent). Along with this, the prices decreased for the purchase of vehicles (-1.3 per cent);
  • Housing, water, electricity, gas and other fuels: the prices for the group posted an 11.9 per cent increase, which contributed 1.75 percentage points to the annual inflation rate. The prices were higher for the following subgroups: electricity, gas and other fuels (13.9 per cent), maintenance and repair of the dwelling (7.3 per cent), water supply and miscellaneous services relating to the dwelling (4.5 per cent);
  • Health: the prices went up by 8.4 per cent, contributing 0.65 percentage points to the overall annual inflation rate. The prices increased for medical products, appliances and equipment (12.7 per cent), hospital services (5.3 per cent) and out-patient services (3.6 per cent).
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