Annual Inflation 4.9% in July

Source: Geostat

Georgia’s annual inflation accelerated to 4.9% in July from 4.5% a month earlier, reaching the highest rate in almost four years, according to data released by the state statistics office on Monday.

On a monthly basis consumer price fell by 0.2% in July, according to Geostat.

Annual inflation in July was driven mostly by increasing prices of alcoholic beverages and cigarettes (11.7% y/y); household maintenance and equipment (7.8%); healthcare (7.3%), and food (7.1%).

Prices on fruits, vegetables and oil were up by 31.7%, 18.7% and 11.2% year-on-year, respectively, in July.

Prices in the group of medical products and equipment increased by 16.6% y/y and prices for outpatient care rose 6% y/y in July.

Prices in the hotel and restaurant sector increased 5.1% in July, compared to the same month of last year.

Prices in transport group were down by 0.8% y/y in July, according to Geostat.

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