GeoStat Releases August Inflation ReportThe Inflation Report was announced by the National Statistics Office of Georgia, GeoStat. In the month of August, the office explains, the Consumer Price Index (CPI) increased by 0.5% from July, and 3.1% year on year.
Nearly half (44%) of the monthly inflation rate was due to increases in the price of food and non-alcoholic beverages. No other individual category made up more than 3% – the GeoStat report does not clarify what had the remaining effect on inflation.
In the food and non-alcoholic beverage category, the biggest changes were seen for vegetables (16.4%), milk, cheese, and eggs (4.8%), and a decrease in fruit prices (-16.2%) – the report specifically notes grapes, as the season has just begun.
Prices were slightly lower this month for clothing and footwear, dipping 1.1%.
Regarding the inflation rate compared to last August, the sectors with the highest increases were transport (7.8%), health (5.2%), alcoholic beverages and tobacco (4.7%), housing, water, electricity, gas and other fuels (3.4%), and food and non-alcoholic beverages (3.2%).
In the transport sector, increases were mainly due to increases costs for operating a personal vehicle (12.9%), although the cost of purchasing a vehicle decreased by 9.7%.
In the health sector, prices increased for medical products, appliances and equipment (10%), out-patient services (2.9%) and hospital services (2.4%).
Prices for alcoholic beverages have increased 1.4% year-on-year and tobacco a noticeable 8%.
Prices for water supply and miscellaneous home-related increased by 7.7%, and electricity, gas and other fuels went up 3.2%.
In the food and non-alcoholic beverage sector, there was an increase in the price of vegetables (24.7%), oils and fats (4.4%), meat (4.3%), fish (3.3%), and milk, cheese and eggs (2.0%). Meanwhile, prices decreased for fruit (-17.1%) and for sugar, jam, honey, chocolate and confectionary (-3.1%).
The full report, including graphs of inflation change over time, can be found here.
