Georgia’s annual inflation rate stood at 6.5 percent

Georgia’s annual inflation rate stood at 6.5 percent

access_time2020-06-03 11:55:17

In May 2020 the Consumer Price Index increased by 0.2 percent compared to the previous month, while the annual inflation rate amounted to 6.5 percent, according to the Statistics Office of Georgia.

With regard to the annual core inflation, the prices increased by 5.9 percent, while the annual core inflation without tobacco amounted to 5.4 percent.

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 14.7 percent, contributing 4.58 percentage points to the overall annual inflation rate. Within the group the prices were higher for the following subgroups: fruit and grapes (47.1 percent), milk, cheese and eggs (24.6 percent), fish (17.1 percent), sugar, jam, honey, chocolate and confectionery (14.5 percent), coffee, tea and cocoa (13.9 percent), meat (13.5 percent), oils and fats (13.1 percent), mineral waters, soft drinks, fruit and vegetable juices (9.5 percent), bread and cereals (9.2 percent) and vegetables (2.7 percent);

As for transport, the prices went down by 4.6 percent, which resulted in a -0.57 percentage point contribution to the overall annual inflation rate. The prices decreased for operation of personal transport equipment (-6.9 percent).


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