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Georgia’s annual inflation rate posts 5.7% increase

Tuesday, September 5
Georgia’s annual inflation rate posted a 5.7 percent year-on-year increase, reports the National Statistics Office of Georgia (Geostat).

Meanwhile, in August 2017 the monthly inflation rate amounted to 0.2 percent.

Last month, prices for food and non-alcoholic beverages increased by 0.5 percent and contributed 0.16 percentage points to the overall Consumer Price Index (annual inflation) change.

The prices were higher for the following subgroups:
• Milk, cheese and eggs (5.4 percent)
• Fruit and grapes (1.7 percent)

In August 2017 prices decreased for vegetables (-3.8 percent).

Meanwhile, transport-related costs decreased by o.7 percent and contributed -0.09 percentage points to the overall monthly inflation rate.

As Geostat reported, the monthly inflation rate was mainly influenced by price changes for the following groups:

Housing, water, electricity, gas and other fuels - prices increased 1.9 percent

Electricity, gas and other fuels - prices were up 2.9 percent