Inflation Rate in Georgia amounted to 0.2 percent in February

Inflation Rate in Georgia amounted to 0.2 percent in February

Inflation Rate in Georgia amounted to 0.2 percent in February

The FINANCIAL -- In February 2018 monthly inflation rate amounted to 0.2 percent.

Compared to the same month of the previous year the Consumer Price Index change (annual inflation rate) posted a 2.7 percent increase, according to GeoStat.

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

Food and non-alcoholic beverages: prices increased by 0.4 percent, contributing 0.13 percentage points to the overall CPI change. Prices were higher for the following subgroups: fruit and grapes (10.4 percent), vegetables (2.9 percent), fish (1.5 percent). Meanwhile, prices decreased for milk, cheese and eggs (-2.3 percent), also for sugar, jam, honey, chocolate and confectionary (-1.6 Percent);

Restaurants and hotels: prices in the group increased by 2.1 percent, contributing 0.09 percentage points to the overall CPI change. Prices increased for catering services (2.3 percent) and accommodation services (0.7 percent);

Alcoholic beverages and tobacco: prices increased by 1.2 percent. Correspondingly, the group had an upward effect of 0.08 percentage points on the monthly inflation. Prices were higher both for tobacco (2.1 percent) and alcoholic beverages (0.4 percent);

Clothing and footwear: prices decreased by 2.2 percent, contributing -0.08 percentage points to the overall CPI change. Within the group prices decreased for footwear (-5.4 percent).

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

Food and non-alcoholic beverages: prices increased by 3.4 percent, contributing 1.04 percentage points to the annual inflation. Prices increased for the following subgroups: fruit and grapes (22.3 percent), milk, cheese and eggs (6.2 percent), meat (3.9 percent), coffee, tea and cocoa (3.3 percent), oils and fats (2.7 percent), fish (2.6 percent);

Alcoholic beverages and tobacco: prices increased by 7.4 percent, with a relevant contribution of 0.49 percentage points to the overall index growth. Prices within the group increased for tobacco (11.8 percent) and alcoholic beverages (2.9 percent);

Transport: prices increased by 2.9 percent, contributing 0.41 percentage points to the annual inflation. The prices increased for transport services (4.3 percent) and operation of personal transport equipment (3.9 percent). Meanwhile, prices decreased for purchase of vehicles (-11.1 percent);

Health: prices increased by 4.3 percent, which resulted in a 0.35 percentage point contribution to the overall annual inflation. Prices increased for subgroups of medical products, appliances and equipment (5.7 percent), out-patient services (4.3 percent) and hospital services (2.6 percent).