In January 2022, the Consumer Price Index increased by 1.1% compared to the previous month, while the annual inflation rate amounted to 13.9%, shows the latest report prepared by the National Statistics Office of Georgia (Geostat).
Based on the same source, with regard to the annual core inflation, prices increased by 5.6%, while the annual core inflation without tobacco also amounted to 5.6%.
“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 2.5%, contributing 0.84 percentage points to the overall monthly index change.
“The prices were higher for the following subgroups: vegetables (8.4 %), fruit and grapes (7.4 %), mineral waters, soft drinks, fruit and vegetable juices (4.1 %), milk, cheese and eggs (3.2 %), coffee, tea and cocoa (1.4 %), fish (1.2 %), meat (1.1 %); Housing, water, electricity, gas and other fuels: the prices for the group posted a 2.9 % 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 %), maintenance and repair of the dwelling (0.8 %); Clothing and footwear: the prices for the group decreased by 3.8 %, 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 %) and clothing (-3.7 %).
“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 %, contributing 5.27 percentage points to the overall annual inflation rate. Within the group the prices increased for the following subgroups: vegetables (23.3 %), bread and cereals (20.5 %), oils and fats (19.6 %), mineral waters, soft drinks, fruit and vegetable juices (18.3 percent), sugar, jam, honey, chocolate and confectionery (18.2 %), fish (16.6 %), milk, cheese and eggs (14.4 percent), fruit and grapes (13.7 %), meat (11.9 %), coffee, tea and cocoa (7.8 %); Housing, water, electricity, gas and other fuels: the prices for the group posted a 44.8 % 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 %), water supply
and miscellaneous services relating to the dwelling (58.0 %), maintenance and repair of the dwelling (8.7 %). In the same period prices were lower for actual rentals for housing (-3.1 percent);
“Transport: the prices increased by 16.2 %, contributing 2.08 percentage points to the annual inflation rate. Within the group the prices increased for operation of personal transport equipment (23.3 %),” reads the report prepared by Geostat.
By Ana Dumbadze
