Inflation rate in Georgia, September 2018

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The FINANCIAL — In September 2018 the Consumer Price Index increased by 0.3 percent compared to the previous month, while the annual inflation rate amounted to 2.7 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 monthly inflation rate, according to Geostat.

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

Education: the prices in the group increased by 3.7 percent, contributing 0.17 percentage pointsto the overall CPI change.

The prices were up for the following subgroups: secondary education (6.3 percent), pre-primary and primary education (6.2 percent), tertiary education (0.8 percent);

Housing, water, electricity, gas and other fuels: the prices in the group increased by 1.0 percent, contributing 0.09 percentage points to the overall CPI change. The prices went up for the following subgroups: electricity, gas and other fuels (1.2 percent), maintenance and repair of the dwelling (0.4 percent) and actual rentals for housing (0.3 percent);

Health: the prices in the group increased by 0.6 percent, contributing 0.05 percentage points to the overall CPI change. In the mentioned period the prices went up for the following subgroups: out-patient services (0.7 percent), medical products, appliances and equipment (0.7 percent), hospital services (0.4 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 annual inflation rate in September 2018, according to Geostat.

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

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Transport: the prices in the group increased by 6.2 percent, with a relevant contribution of 0.83 percentage points to the overall index growth. The prices within the group increased for operation of personal transport equipment (10.8 percent);

Food and non-alcoholic beverages: the prices went up by 1.8 percent, contributing 0.55 percentage points to the annual inflation. There was an increase in the prices for the following subgroups: vegetables (8.7 percent), fish (5.1 percent), oils and fats (3.8 percent), meat (3.3 percent), bread and cereals (2.1 percent), coffee, tea and cocoa (2.0 percent). Meanwhile, the prices decreased for the group of fruit and grapes (-9.9 percent), sugar, jam, honey, chocolate and confectionary (-3.5 percent), also for milk, cheese and eggs (-1.4 percent);

Health: the prices increased by 5.7 percent, which resulted in a 0.48 percentage point contributionto the overall annual inflation.

The prices were up for the following subgroups: medical products, appliances and equipment (11.1 percent), out-patient services (3.6 percent) and hospital services (2.2 percent);

Housing, water, electricity, gas and other fuels: the prices were higher by 4.4 percent, contributing 0.38 percentage points to the annual inflation. The prices increased for the subgroup of water supply and miscellaneous services relating to the dwelling (7.7 percent), also for electricity, gas and other fuels (4.4 percent) and maintenance and repair of the dwelling (2.5 percent);

Alcoholic beverages and tobacco: the prices in the group increased by 4.9 percent, with a relevant contribution of 0.34 percentage points to the annual inflation. The prices went up for the subgroup of tobacco (8.0 percent) and alcoholic beverages (1.8 percent).

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