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Alcohol and Tobacco Prices on Rise While Food Prices Drop

Data published by Georgia’s National Statistics Office, Geostat, revealed the change in price of goods in June 2015 contributed to a monthly inflation rate of 0.02 percent.

Last month the cost of food and non-alcoholic beverages dropped by 1.9 percent, which contributed 0.59 percentage points to the overall monthly inflation.

Prices were also lower for vegetables (-17.9 percent), milk, cheese and eggs (-1.4 percent) and fish (-1.1 percent), while prices increased for fruit and grapes (5.6 percent). On this note, restaurant and hotel costs last month were 3.9 percent higher than in May 2015.

In June 2015 costs related to housing, water, electricity, gas and other fuels were -0.7 percent lower than in May 2015, and clothing and footwear costs were down -3.3 percent in the same time frame.

Geostat noted transport costs rose 3.1 percent in June 2015; this category contributed 0.35 percentage points to the monthly inflation rate. In the same reporting period prices also rose for fuels and lubricants (6.9 percent).

The annual inflation rate equalled 4.5 percent in June 2015.