The Consumer Price Index in November grew by 0.6% MoM, while the annual inflation rate in Georgia stood at 12.5%, the latest inflation data of the National Statistics Office of Georgia (Geostat) showed.
“With regard to the annual core inflation, excluding food and non-alcoholic beverages, energy, regulated tariffs and transport, prices increased by 6.1%, while annual core inflation without tobacco also amounted to 6.1%,” Geostat reports.
The monthly inflation rate was mainly influenced by price changes in the following groups: food and non-alcoholic beverages (+0.6%), transport (+1.7), furnishings, household equipment and maintenance (+1%).
The annual inflation rate was mainly influenced by price changes in the following groups: food and non-alcoholic beverages (+17%), transport (+20.2%) and housing, water, electricity, gas and other fuels (+11.5%).
Prices in November were higher for the following subgroups: milk, cheese and eggs (+4.4%), bread and cereals (+1.5%), coffee, tea and cocoa (+1.3%), oils and fats (+1%).
However, the prices of vegetables (-5.1%) and fruits (-2.6%) decreased in November.
The head of the National Bank of Georgia (NBG) Koba Gvenetadze said earlier in November that annual inflation in the country would be higher than expected, noting that the NBG projected a reduction in annual inflation to 6% in March, “though inflation will not decrease as expected due to the rising prices of oil and wheat”. (Agenda/Business World Magazine)
