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Annual Inflation Rate Hits 7.1%

In June 2017 Georgia’s annual inflation rate rose by 0.4% month on month and constituted 7.1%.

In the mentioned period, price changes in the following categories influenced the inflation formation: food and soft drinks: prices declined by 1.5%, which constituted – 0.45% in total inflation indicator formation.

Prices declined in the following subgroups: vegetables (-9%), milk, cheese and eggs (-2.1%), oil and fat (-1.1%) and fruit and grapes (-0.9%); strong drinks, tobacco: prices rose in the group by 2.5%. Consequently, the group’s contribution to total inflation indicator constituted 0.17%. Prices rose on alcoholic beverages (1.3%) and tobacco products (3.6%).

Price change in the following groups have affected a formation of annual inflation index: food and soft drinks: prices rose by 9.5%. Prices rose in the following subgroups: vegetables (33.7%), fruit and grapes (15.7%), milk, cheese and eggs (11%), sugar, jam and other sweets (10.4%), coffee, tea and cocoa (5.3%); transport: prices rose by 15.3% with 1.92% ratio in total inflation indicator. Prices rose on private transport exploitation (12.9%) and transport services (4.6%).

Strong drinks, tobacco: prices rose by 18.2% with 1.18% ratio in total inflation index. Tobacco product prices by 36.8%, strong drink prices rose by 3%;

Healthcare: prices rose by 7.4% with 0.66% ratio in total inflation index growth. Prices of medical products rose by 21.3% and prices in inpatient medical services increased by 5.4%.