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Inflation Rate in Georgia on May 2016

In May 2016 the monthly inflation rate amounted to -0.4 percent in Georgia. Compared to the same month of previous year the Consumer Price Index change (annual inflation rate) posted a 2.1 percent increase.

Compared to 2010 average the index rose 16.6 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.

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

Food and non-alcoholic beverages: within the group prices decreased 1.1 percent with a relevant contribution of -0.35 percentage points to the overall monthly inflation rate. This change was mainly attributable to price declines for the following subgroups: milk, cheese and eggs (-4.3 percent) and vegetables (-7.2 percent). Prices were 4.7 percent higher for fruit and grapes;

Alcoholic beverages and tobacco: prices for the group showed a 1.0 percent decline and contributed -0.06 percentage points to the overall index change. Prices mainly decreased for tobacco (-1.3 percent). In May transport prices posted a 0.6 percent increase, contributing 0.07 percentage points to the overall monthly inflation rate.

In May transport prices posted a 0.6 percent increase, contributing 0.07 percentage points to the overall monthly inflation rate.

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

Alcoholic beverages and tobacco: prices rose 12.6 percent, contributing 0.77 percentage points to the overall inflation rate. Price growth was manly registered for tobacco (20.7 percent);

Health: prices were 5.7 percent higher, with the relevant contribution of 0.55 percentage points to the overall annual inflation. Prices mainly rose for out-patient services (9.8 percent) and medical products, appliances and equipment (4.2 percent);

Housing, water, electricity, gas and other fuels: within the group prices went up 5.5 percent, which had am impact of 0.46 percentage points on the overall annual CPI change. This rate was mainly attributable to price increase for electricity, gas and other fuels (9.3 percent);

Food and non-alcoholic beverages: in 12-month period prices increased 1.4 percent, with a relevant contribution of 0.40 percentage points to the overall inflation rate.

The prices increased substantially for fruit and grapes (20.6 percent); An 8.3-percent price decline was registered for transport, contributing -1.01 percentage points to the overall annual inflation rate.

Prices were mainly down for purchase of vehicles (-21.6 percent) and operation of personal transport equipment (-11.3 percent).