The Consumer Price Index increased by 0.3% in October 2024 compared to the previous month, marking it as the annual inflation rate, the National Statistics Office of Georgia (Geostat) reports, with core inflation rising by 1.2%.
The categories most severely affected by the inflation rate are as follows:
- Restaurants and Hotels: Prices, primarily driven by accommodation and catering services, rose by 7.6%, with a 0.26 percentage point contribution to the overall inflation rate. Each contributing sector saw increases of 10.4% and 6.8%, respectively.
- Education: The sector underwent a 5.0% price increase, contributing 0.25 percentage points to the overall inflation rate.
- Other Services and Products: Prices in this category experienced an increase of 5.8%, contributing 0.3 percentage points to the overall inflation rate. Primary areas of influence were personal effects, with 24.5%, and insurance, at 12.9%.
