Georgia inflation rate amounted to 0.6 percent in January

Georgia inflation rate amounted to 0.6 percent in January

Georgia inflation rate amounted to 0.6 percent in January

The FINANCIAL -- In January 2018 monthly inflation rate amounted to 0.6 percent.

Compared to the same month of the previous year the Consumer Price Index change (annual inflation rate) posted a 4.3 percent increase, according to Geostat.

The following table shows percentage changes in prices for the commodity groups of the consumer basket as well as the relevant contributions to the overall monthly inflation rate.

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

Prices for food and non-alcoholic beverages increased by 1.7 percent, contributing 0.52 percentage points to the overall CPI change. Prices were higher for the following subgroups: fruit and grapes (9.8 percent), vegetables (5.3 percent), milk, cheese and eggs (3.0 percent), sugar, jam, honey, chocolate and confectionary (1.0 Percent);

Housing, water, electricity, gas and other fuels: prices in the group increased by 2.7 percent, contributing 0.21 percentage points to the overall CPI change. Prices were up for electricity, gas and other fuels (2.5 percent), also for water supply and miscellaneous services related to the dwelling (7.7 percent);

Clothing and footwear: prices decreased by 2.1 percent, contributing -0.08 percentage points to the overall CPI change. Prices were down for footwear (-3.5 percent) and clothing (-1.5 percent).

The following table shows percentage changes in prices for the commodity groups of the consumer basket as well as the relevant contributions to the overall annual inflation rate in January 2018.

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

Food and non-alcoholic beverages: prices increased by 4.7 percent, contributing 1.44 percentage points to the annual inflation. Prices were up for the following subgroups: fruit and grapes (13.5 percent), milk, cheese and eggs (7.9 percent), meat (6.6 percent), vegetables (4.3 percent), coffee, tea and cocoa (4.3 percent), oils and fats (4.0 percent);

Transport: prices increased by 6.6 percent, contributing 0.91 percentage points to the annual inflation. The prices rose for operation of personal transport equipment (9.7 percent) and transport services (3.4 percent). Meanwhile, prices were down for purchase of vehicles (-9.2 percent);

Alcoholic beverages and tobacco: prices increased by 11.5 percent, with a relevant contribution of 0.75 percentage points to the overall index growth. Prices within the group were higher for tobacco (19.8 percent) and alcoholic beverages (3.5 percent);

Health: prices were up by 6.4 percent, which resulted in a 0.52 percentage point contribution to the overall annual inflation. Prices increased for subgroups of medical products, appliances and equipment (10.7 percent), out-patient services (5.4 percent) and hospital services (2.8 percent).

Housing, water, electricity, gas and other fuels: prices increased by 4.2 percent, contributing 0.35 percentage points to the annual inflation. Prices rose for electricity, gas and other fuels (4.6 percent), also for water supply and miscellaneous services related to the dwelling (7.7 percent).