In May 2022 the Consumer Price Index increased by 1.1 percent compared to the previous month, while the annual inflation rate amounted to 13.3 percent, reports National Statistics Office of Georgia (Geostat).
Geostat says with regard to the annual core inflation, the prices increased by 5.9 percent, while the annual core inflation without tobacco amounted to 6.7 percent.
“The monthly inflation rate was mainly influenced by price changes for the following groups:
“Housing, water, electricity, gas and other fuels: the prices for the group increased by 6.2 percent,contributing 0.64 percentage points to the overall monthly inflation rate. The prices increased forthe following subgroups: actual rentals for housing (20.6 percent), maintenance and repair of thedwelling (0.3 percent);
“Food and non-alcoholic beverages: the prices for the group increased by 0.8 percent, contributing 0.19 percentage points to the overall monthly inflation rate. The prices increased for the following subgroups: fruit and grapes (13.0 percent), bread and cereals (4.8 percent), fish (1.8 percent), oilsand fats (1.6 percent), mineral waters, soft drinks, fruit and vegetable juices (1.2 percent). At thesame time, prices decreased for the subgroup of milk, cheese and eggs (-4.5 percent);
“Alcoholic beverages and tobacco: the prices increased by 1.3 percent, contributing 0.08 percentage points to the overall index change. The prices increased for alcoholic beverages (2.0percent) and for tobacco products (0.3 percent),” reports Geostat.
According to Statistics Office, 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 22.0 percent, contributing 6.88 percentage points to the overall annual inflation rate. Within the group the prices increased for the following subgroups: vegetables (51.1 percent), bread and cereals (34.5 percent), mineral waters, soft drinks, fruit and vegetable juices (23.5 percent), fruit and grapes (23.3 percent), fish (19.4 percent), oils and fats (17.7 percent), coffee, tea and cocoa (16.8 percent), milk, cheese and eggs (16.0 percent), sugar, jam, honey, chocolate and confectionery (15.4 percent) and meat (9.6 percent);
Transport: the prices increased by 20.0 percent, contributing 2.42 percentage points to the overall index growth. Within the group the prices increased for operation of personal transport equipment (25.2 percent), transport services (12.9 percent) and purchase of vehicles (3.0 percent);
Housing, water, electricity, gas and other fuels: the prices for the group posted a 16.1 percent increase, which contributed 1.67 percentage points to the annual inflation rate. The prices were higher for the following subgroups: actual rentals for housing (28.2 percent), maintenance and repair of the dwelling (13.6 percent) and electricity, gas and other fuels (11.2 percent).
