Posted: 3 years ago

February Registered 2.3% Inflation Rate –Major Rise in Prices due to Product Items

Geostat, the national statistics service of Georgia, published its report on the 2019 February inflation rates.

According to the document, the annual inflation rate in February 2019 made up 2.3%. The major rise in prices was seen in the category of tobacco and strong drinks – 16%. Food products rose in prices by 2.9%.

Food and soft drinks: the group registered a 2.9% upturn with 0.9% contribution to the annual inflation. Prices rose in the following subcategories: fish products (12.5%), bread and pastry (10.2%), vegetables and garden plants (7.6%), meat and meat products (4.3%), mineral and spring water, soft drinks and natural juices (2.5%), at the same time, prices declined in the following subgroups: fruits and grapes (-23.6%), sugar, jams and other sweets (-3.4%).

Healthcare: prices rose by 3.4% with 0.29% contribution to the annual inflation rate. Prices rose in the following subgroups: medical equipment (4.8%), outpatient medical services (4.1%) and hospital services (1.4%).

Strong drinks, tobacco: prices rose by 16.1% with a 1.06% contribution to the annual inflation. Prices on tobacco products rose by 32.7%.

Transport: the group recorded 2.0% upturn with 0.255 contribution to the annual inflation. Prices rose for exploitation of personal vehicles (3.4%) and transport services (1.2%).