In June 2023 the Consumer Price Index decreased by 0.7 percent compared to the previous month, while the annual inflation rate amounted to 0.6 percent, the Georgian National Statistics Service (GeoStat) reported on Monday.

With regard to the annual core inflation, the prices increased by 4.1 percent, while the annual core inflation without tobacco amounted to 4.0 percent.

According to 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 decreased by 3.2 percent, contributing -1.08 percentage points to the overall monthly inflation rate. The prices decreased for the following subgroups: vegetables (-19.1 percent), oils and fats (-4.9 percent), bread and cereals (-2.7 percent), milk, cheese and eggs (-1.6 percent), meat (-0.6 percent). At the same time, prices increased for fish (3.3 percent).

Transport: the prices for the group increased by 1.5 percent, contributing 0.17 percentage points to the overall index. Within the group the prices increased for the following subgroups: operation of personal transport equipment (2.0 percent) and transport services (0.8 percent).

Housing, water, electricity, gas and other fuels: the prices for the group posted a 0.8 percent increase, which contributed 0.08 percentage points to the overall monthly inflation rate. The prices were higher for the following subgroups: maintenance and repair of the dwelling (7.0 percent) and actual rentals for housing (1.3 percent).

Miscellaneous goods and services: the prices for the group increased by 17.7 percent, contributing 0.89 percentage points to the overall index. Within the group, the prices were higher for the following subgroups: financial services n.e.c. (27.9 percent), personal care (10.7 percent), other services n.e.c. (91.0 percent).

Alcoholic beverages and tobacco: the prices increased by 7.4 percent, contributing 0.5 percentage points to the overall index. Within the group, the prices were higher for both alcoholic beverages
(9.1 percent) and tobacco (5.3 percent).

Transport: the prices for the group decreased by 11.6 percent, contributing -1.45 percentage points to the overall index. Within the group the prices decreased for the following subgroups:
operation of personal transport equipment (-18.4 percent), purchase of vehicles (-2.0 percent). At the same time, prices increased for transport services (5.9 percent).

Health: the prices for the group decreased by 6.9 percent, with the relevant contribution of -0.67 percentage points to the annual inflation rate. Within the group, the prices were lower for medical products, appliances and equipment (-17.2 percent). At the same time, prices increased for outpatient services (12.5 percent) and hospital services (6.6 percent).