National Statistics Office: Annual inflation rate amounted to 2.4 percent in December

According to the National Statistics Office of Georgia, in December 2020 the Consumer Price Index decreased by 1.0 percent compared to the previous month, while the annual inflation rate amounted to 2.4 percent. With regard to the annual core inflation, the prices increased by 5.3 percent, while the annual core inflation without tobacco amounted to 4.9 percent.

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

Housing, water, electricity, gas and other fuels: the prices for the group posted a 22.0 percent decrease, which contributed -1.89 percentage points to the monthly inflation rate. The prices were lower for the following subgroups: water supply and miscellaneous services relating to the dwelling (-36.5 percent) and electricity, gas and other fuels (-30.2 percent);

Food and non-alcoholic beverages: the prices in the group increased by 2.1 percent, contributing 0.69 percentage points to the overall monthly inflation rate. The prices were higher for the following subgroups: vegetables (6.5 percent), milk, cheese and eggs (4.2 percent), fruit and grapes (3.8 percent), oils and fats (3.5 percent), fish (1.9 percent);

Transport: the prices increased by 2.4 percent, contributing 0.26 percentage points to the overall monthly inflation rate. Within the group the prices increased for operation of personal transport equipment (4.1 percent). Along with this, the prices decreased for purchase of vehicles (-1.3 percent).