Annual inflation hits 10.6% in Georgia

The consumer Price Index increased by 0.5 percent in October compared to the previous month, while the annual inflation rate amounted to 10.6 percent, the national statistics office said on Thursday. 

The agency said that 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 1.4 percent, contributing 0.45 percentage points to the overall monthly inflation rate. 

The prices increased for the following subgroups: vegetables (13.2 percent), milk, cheese and eggs (2.6 percent), sugar, jam, honey, chocolate and confectionery (2.1 percent), coffee, tea and cocoa (1.4 percent). At the same time, prices decreased for the following subgroups: fruit and grapes (-6.7 percent), oils and fats (-2.0 percent). 

Housing, water, electricity, gas and other fuels: the prices increased by 1.3 percent, contributing 0.13 percentage points to the overall monthly inflation rate. The prices were higher for the following subgroups: actual rentals for housing (2.2 percent), maintenance and repair of the dwelling (0.9 percent); Clothing and footwear: the prices increased by 3.8 percent, contributing 0.15 percentage points to the overall monthly inflation rate. Within the group, the prices were higher for both footwear (6.1 percent) and clothing (2.7 percent).

Transport: the prices for the group decreased by 2.0 percent, contributing -0.24 percentage points to the overall index. Within the group the prices decreased for operation of personal transport equipment (-2.3 percent), transport services (-1.6 percent) and purchase of vehicles (-1.1 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 15.8 percent, contributing 5.22 percentage points to the overall annual inflation rate. Within the group the prices increased for the following subgroups: bread and cereals (26.1 percent), milk, cheese and eggs (22.1 percent), mineral waters, soft drinks, fruit and vegetable juices (21.9 percent), coffee, tea and cocoa (20.6 percent), oils and fats (18.3 percent), sugar, jam, honey, chocolate and confectionery (16.9 percent), fish (12.3 percent), meat (9.0 percent), vegetables (3.5 percent), fruit and grapes (3.4 percent).

Transport: the prices in the group increased by 11.6 percent, contributing 1.38 percentage points to the overall index. Within the group the prices increased for transport services (13.8 percent) and operation of personal transport equipment (13.2 percent).Housing, water, electricity, gas and other fuels: the prices for the group posted a 13.5 percent increase, which contributed 1.31 percentage points to the annual inflation rate. The prices were higher for the following subgroups: actual rentals for housing (27.0 percent), maintenance and repair of the dwelling (13.1 percent), electricity, gas and other fuels (5.7 percent).