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Geostat: Annual Inflation 6.5% in May

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Georgia’s annual inflation amounted to 6.5% in May 2020 year-on-year, while Consumer Price Index increased by 0.2 % compared to the previous month, the National Statistics Office (Geostat) reported on June 3.

The annual inflation rate was driven by price changes in food and non-alcoholic beverages, and transport services. According to Geostat’s breakdown of the relevant subgroups:

  • prices on fruit and grapes rose by 47.1 % y/y;
  • milk, cheese and eggs – 24.6 % y/y;
  • meat – 13.5 % y/y;
  • fish – 17.1 % y/y ;
  • sugar, jam, honey, chocolate and confectionery – 14.5 % y/y;
  • oils and fats – 13.1 % y/y;
  • coffee, tea and cocoa – 13.9 % y/y.

As for transport category, prices decreased by 4.6 % (down by 6.9 % for personal transport equipment).

Annual inflation rate. Screengrab from Geostat.ge

The monthly inflation rate was mainly impacted by price fluctuations in the following groups: restaurants and hotels (prices increased by 4.3 %), health (up by 1.3 %), and transport (down by 2.4 %).

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