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Georgia’s Annual Inflation at 0.1% in November

Georgia’s annual inflation rate amounted to 0.1% in November 2023, the National Statistics Office (Geostat) reported on December 4. On a monthly basis, meanwhile, consumer prices increased by 0.2%.

The annual inflation rate was primarily driven by price changes in miscellaneous goods and services (9.8% increase); alcoholic beverages and tobacco (5.1% increase); housing, water, electricity, gas and other fuels (3.4% increase); transport (2.5% increase); and food and non-alcoholic beverages (3.1% decrease).

The monthly inflation rate was mainly driven by price changes in housing, water, electricity, gas and other fuels (0.9% increase); food and non-alcoholic beverages (0.5% decrease); health (0.8% decrease); and furnishings, household equipment and maintenance (1.7% decrease).

As for food and non-alcoholic beverages, prices decreased this year for the following subgroups: oils and fats (-19.4%); vegetables (-11.7%), bread and cereals (-9.2%); milk, cheese and eggs (-3.5%); and sugar, jam, honey, chocolate and confectionery (-2.5%). At the same time, the prices increased for the following subgroups: fruit and grapes (12.2%); meat (6.3%); fish (5.0%); and mineral waters, soft drinks,
fruit and vegetable juices (2.7%).

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