Annual Inflation Slows to 1.9% in November

Inflation rose 1.9% in November from a year earlier, slowing from the 2.3% year-on-year rise in October, the Georgian state statistics agency, Geostat, said on December 1.

Month-on-month inflation was 0.7% in November, according to Geostat.

Georgia’s annual inflation started slowing down in June after hitting 14.3% in May.

Transport and fuel prices were key drivers of annual inflation in November with prices on public transport increasing 24.3% (exactly the same figure stood in October) and fuel prices going up by 14.6% (14.1% in October).

Prices on food and non-alcoholic beverages decreased 0.2% y/y in November, according to Geostat. Prices on meat, sugar and dairy products, however, increased 21.5%, 7.3% and 5.5%, respectively, y/y in November.