Georgia’s Annual Inflation at 0.3% in February 2024

Georgia’s annual inflation rate amounted to 0.3% in February 2024, the National Statistics Office (Geostat) reported on March 4. On a monthly basis, meanwhile, consumer prices decreased by 0.04%.

The annual inflation rate was primarily driven by price changes in miscellaneous goods and services (8.6% increase); alcoholic beverages and tobacco (5.5% increase); transport (4.8% increase); and food and non-alcoholic beverages (3.5% decrease).

Source: Geostat

The monthly inflation rate was mainly driven by price changes in alcoholic beverages and tobacco (1.9% increase); furnishings, household equipment and maintenance (1.4% increase); health (0.8% increase); transport (1.0% decrease); and clothing and footwear (4.6% decrease).

As for food and non-alcoholic beverages, prices decreased this year for the following subgroups: oils and fats (-18.7%); vegetables (-14.2%): bread and cereals (-9.8%); and milk, cheese and eggs (-5.0%). At the same time, the prices increased for the following subgroups: fruit and grapes (21.0%); meat (4.5%); mineral waters, soft drinks, fruit and vegetable juices (4.1%); sugar, jam, honey, chocolate and confectionery (2.0%); coffee, tea and cocoa (1.8%); and fish (1.6%).

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