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Inflation Drops to 0.1 Percent in Georgia

In February 2016 the monthly inflation rate in Georgia amounted to 0.1 percent, Geostat reported.

The following table shows percentage changes in prices for the commodity groups of the consumer basket as well as the relevant contributions to the overall inflation rate.

In February 2016 prices increased for food, beverages, tobacco and communication services, while transport costs dropped, said the National Statistics Office of Georgia, Geostat.

Month-on-month the cost of food and non-alcoholic beverages increased 7.5 percent and contributed 0.45 percentage points to the overall index change.

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Communication prices were 4.1 percent higher compared to the previous month. Consequently, the group contributed 0.13 percentage points to the overall monthly inflation. The prices rose for telephone, telegraph and telefax services (4.1 percent);

As for Transport prices declined 2.3 percent, contributing -0.28 percentage points to the overall inflation rate. Within the group prices were down for fuels and lubricants (-5.3 percent).

In February 2016 the annual inflation rate in Georgia equaled 5.6 percent. The following table shows percentage changes in prices for the commodity groups of the consumer basket as well as the relevant contributions to the overall inflation rate.

The annual inflation rate was mainly influenced by price changes for the following groups:

Food and non-alcoholic beverages: prices increased 4.6 percent, with an impact of 1.43 percentage points on the overall rate.

fruit and grapes: (33.0 percent), oils and fats (10.6 percent) and coffee, tea and cocoa (10.0 percent);

Health: the prices were up 10.5 percent, with the relevant contribution of 1.00 percentage points to the overall annual inflation. The prices mainly rose for medical products, appliances and equipment (19.6 percent) and out-patient services (11.4 percent);

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Alcoholic beverages and tobacco: the prices rose 14.3 percent, contributing 0.84 percentage points to the overall inflation rate. Prices grew both for tobacco (16.5 percent) and alcoholic beverages (14.0 percent);

Furnishings, household equipment and maintenance: prices rose 10.5 percent and the group contributed 0.68 percentage points to the overall annual inflation.