The National Bank of Georgia (NBG) shared a report illustrating that inflation continues to be below the target level, with the annual rate decreasing to 0.6% in September. Such a decline is associated with low inflation rates for local production, as well as reduced import inflation.
Below is a breakdown of inflation points reported by NBG:
Core inflation, excluding food, energy, and cigarette prices: 0,8%
Monthly price level change: an increase of 0,3% compared to August 2024.
Seasonal impact: 0,2% price increase in Imeretian cheese; a collective decrease of 0,2% for apples, grapes, cucumbers, and tomatoes.
Gasoline price: an increase of 7,2% compared to September 2023, 0,3% contribution to overall inflation
Tariffs: internet with 1,7% reduction and electricity with 0,3% reduction. Contributing to 0,4% and 0,3% to inflation, respectively.
Food: overall decrease of 0,8% measured against September 2023, contributing with 0,2% to inflation.
Domestic inflation: remains at 1,2%, largely due to decreased service inflation at 1,6%.
