Annual inflation rate hits 13.9% in Georgia

In January 2022 the Consumer Price Index increased by 1.1 percent compared to the previous month, while the annual inflation rate amounted to 13.9 percent, the National Statistics Office of Georgia says. 

 

With regard to the annual core inflation, the prices increased by 5.6 percent, while the annual core inflation without tobacco also amounted to 5.6 percent. 

 

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

Food and nonalcoholic beverages: the prices for the group increased by 2.5 percent, contributing 0.84 percentage points to the overall monthly index change. 

 

The prices were higher for the following subgroups: vegetables (8.4 percent), fruit and grapes (7.4 percent), mineral waters, soft drinks, fruit and vegetable juices (4.1 percent), milk, cheese and eggs (3.2 percent), coffee, tea and cocoa (1.4 percent), fish (1.2 percent), meat (1.1 percent). 

 

Housing, water, electricity, gas and other fuels: the prices for the group posted a 2.9 percent increase, which contributed 0.24 percentage points to the inflation rate.  

 

The prices were higher for the following subgroups: electricity, gas and other fuels (4.4 percent), maintenance and repair of the dwelling (0.8 percent); Clothing and footwear: the prices for the group decreased by 3.8 percent, with the relevant contribution of -0.14 percentage points to the monthly inflation rate. Within the group, the prices were lower for both footwear (-3.7 percent) and clothing (-3.7 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 16.2 percent, contributing 5.27 percentage points to the overall annual inflation rate. 

 

Within the group the prices increased for the following subgroups: vegetables (23.3 percent), bread and cereals (20.5 percent), oils and fats (19.6 percent), mineral waters, soft drinks, fruit and vegetable juices (18.3 percent), sugar, jam, honey, chocolate and confectionery (18.2 percent), fish (16.6 percent), milk, cheese and eggs (14.4 percent), fruit and grapes (13.7 percent), meat (11.9 percent), coffee, tea and cocoa (7.8 percent). 

 

Housing, water, electricity, gas and other fuels: the prices for the group posted a 44.8 percent increase, which contributed 3.69 percentage points to the annual inflation rate.  

 

The prices were higher for the following subgroups: electricity, gas and other fuels (68.0 percent), water supply and miscellaneous services relating to the dwelling (58.0 percent), maintenance and repair of the dwelling (8.7 percent). In the same period prices were lower for actual rentals for housing (-3.1 percent); 

 

Transport: the prices increased by 16.2 percent, contributing 2.08 percentage points to the annual inflation rate. Within the group the prices increased for operation of personal transport equipment (23.3 percent).