Geostat reveals inflation rates in Georgia in June 2020

By Trend

The Consumer Price Index decreased by 1.4 percent in June 2020 in Georgia compared to the previous month, while the annual inflation rate amounted to 6.1 percent,Trend reports referring to National Statistics Office of Georgia (Geostat).

As reported, the monthly inflation rate was mainly influenced by price changes for the food and non-alcoholic beverages: the prices in the group decreased by 4.8 percent, contributing -1.6 percentage points to the overall monthly inflation rate.

The prices were lower for the vegetables (-28.7 percent), fruit and grapes (-6.2 percent), milk, cheese and eggs (-5.2 percent) and fish (-1.2 percent).

The prices on transport decreased by 3.4 percent, contributing -0.37 percentage points to the overall monthly inflation rate. Within the group the prices decreased for purchase of vehicles (-7.6 percent) and operation of personal transport equipment (-4.3 percent).

The prices on clothing and footwear increased by 5.6 percent, contributing 0.19 percentage points to the overall monthly inflation rate. The prices went up for both clothing (2.8 percent)
and footwear (11 percent).

The prices on health went up by 2.2 percent, contributing 0.17 percentage points to the overall monthly inflation rate. The prices increased for out-patient services (7.1 percent).

With regard to the annual core inflation, the prices increased by 6.6 percent, while the annual core inflation without tobacco amounted to 6.2 percent.

The annual inflation rate was mainly influenced by price changes for the food and non-alcoholic beverages: the prices in the group increased by 13.6 percent, contributing 4.15 percentage points to the overall annual inflation rate.

Within the group the prices increased for the fruit and grapes (46.5 percent), milk, cheese and eggs (17.2 percent), fish (15.8 percent), coffee, tea and cocoa (14.8 percent), oils and fats (13.5 percent), meat (13.1 percent), sugar, jam, honey, chocolate and confectionery (12.6 percent), bread and cereals (10 percent) and mineral waters, soft drinks, fruit and vegetable juices (9.3 percent).

The prices in health sector went up by 7.5 percent, contributing 0.61 percentage points to the overall annual inflation rate. The prices increased for out-patient services (11.6 percent) and medical products, appliances and equipment (10.2 percent).

The prices on transport went down by 8.6 percent, which resulted in a -1.08 percentage point contribution to the overall annual inflation rate. The prices decreased for operation of personal transport equipment (-11.8 percent).