Geostat Reports 0.2% Annual Deflation in October

Georgia’s annual inflation dipped below zero at -0.2% in October after 0.1% inflation in September, the state statistics office, Geostat, said on Thursday.

On a monthly basis prices were up 0.5% in October after 0.3% in September.

Prices in the group of alcoholic beverages and cigarettes rose by 10.9% year-on-year in October, caused mostly by increase of excise tax on tobacco and alcohol products.

Annual inflation in communication services stood at 3.8% y/y in October; prices for hotels and restaurants services rose by 2.8% y/y and food prices were up 0.2% y/y.

Prices in the transport group were down by 6.7% y/y in October, driven mostly by 16.1% y/y fall of prices on vehicles. Prices on clothing and footwear dipped by 5.2% y/y in October and prices on furniture, household appliances and equipment were down by 3.9% y/y.  

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