Geostat: Annual Inflation 2.1% in May

Georgia’s annual inflation slowed to 2.1% in May from 3.2% in April, the state statistics office, Geostat, said on Friday.

On a monthly basis prices fell 0.4% in May after 0.6% deflation in April.

Prices in the group of alcoholic beverages and cigarettes rose by 12.6% year-on-year in May, caused mostly by increase of excise tax on tobacco and alcohol products.

Annual inflation in the healthcare group stood at 5.7% in May, driven by 9.8% y/y increase of prices for outpatient services, and 4.2% y/y price increase for medical products, appliances and equipment.

Prices for hotels and restaurants services increased 6.1% y/y in May.

Inflation in the group of housing, water, electricity and gas was up 5.5% y/y in May and prices in the group of household maintenance and equipment rose 4.2%. Food prices were up 1.4% y/y in May.

Prices in transport group were down by 8.3% y/y in May.