Georgia: Annual Inflation 6.6% in May

Georgia: Annual Inflation 6.6% in May

Georgia: Annual Inflation 6.6% in May

The FINANCIAL -- Georgia’s annual inflation stood at 6.6% in May after 6.1% in the previous month, according to the state statistics office Geostat.

On a monthly basis the inflation rate remained unchanged at 0.1% in May.

The annual inflation rate was driven by higher prices in the group of alcoholic beverages and cigarettes (up by 15% y/y) and transport group (up by 17.5% y/y).

Prices on food and non-alcoholic beverages increased by 8.3% y/y. According to Geostat, prices increased significantly in the subgroups of vegetables (30.3%); sugar, jam, honey, chocolate and confectionary (11.3%); milk, cheese and eggs (10.1%); meat and meat products (8%), oil and fats (6%). Prices were down on fruits and grapes (-4.7%).

Prices in the healthcare group increased by 6.7% y/y in May. Prices increased in the subgroups of medical products, appliances and equipment (16.8%) and outpatient services (5.3%).