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Georgia’s Annual Inflation at 0.3% in October 2024

Georgia’s annual inflation rate remained low at 0.3% in October 2024, the National Statistics Office (Geostat) reported on November 4. On a monthly basis, meanwhile, consumer prices increased by 0.3%.

The annual inflation rate was primarily driven by price changes in restaurants and hotels (7.6% increase); miscellaneous goods and services (5.8% increase); education (5% increase); alcoholic beverages and tobacco (3.3% increase); and communication (12.7% decrease).

Source: Geostat

The monthly inflation rate was mainly driven by price changes in clothing and footwear (6.7% increase); food and non-alcoholic beverages (0.4% increase), and transport (1.4% decrease).

As for food and non-alcoholic beverages, prices decreased this month for the following subgroups: milk, cheese and eggs (2.3%); coffee, tea and cocoa (1.9%); oils and fats (1.6%); sugar, jam, honey, chocolate and confectionery (1.4%); vegetables (0.6%); bread and cereals (0.5%); and mineral waters, soft drinks, fruit and vegetable juices (0.4%). At the same time, prices decreased for fruit and grapes (-5.3%); fish (-2.1%); and meat (-0.3%).

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This post is also available in: ქართული (Georgian) Русский (Russian)

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