Prices in the HORECA Sector Show a 15.7% Increase According to HICP Index

According to the Harmonized Index of Consumer Prices (HICP), hotels, cafes and restaurants show a 15.7% increase in the HICP.

Geostat  began to publish a new indicator (HICP), which reflects the change in prices in the country.

According to Geostat, the HICP is used mainly by EU member states and is an important indicator of price stability. It is based on a unified, harmonized methodology and thus, the successful implementation of this indicator by Georgia is of great importance in terms of approximation to EU standards.

It differs from the Consumer Price Index (CPI) by several methodological features, mainly in terms of consumer basket weights and the classifier used.