Geostat: Annual Inflation 5.6% in January

Georgia’s annual inflation accelerated to 5.6% in January from 4.9% previous month, according to the state statistics office Geostat.

On monthly basis there was 0.9% inflation in January.

Food prices were up 5.1% year-on-year in January and prices in the group of alcoholic beverages and cigarettes rose by 7.3% y/y.

Annual inflation in the healthcare group stood at 11% in January, driven by 22.6% y/y price hike for medical products, appliances and equipment and 11.2% y/y increase of prices for outpatient services.

Prices in the group of household maintenance and equipment rose 10.4% y/y and inflation in the group of housing, water, electricity and gas was up 8.4% y/y in January. Prices for hotels and restaurants services increased 6.5% y/y in January.

There was 1.6% y/y deflation in the transport group with fuel prices declining by 7.5% y/y in January.