Geostat: In October 2023 the Consumer Price Index increased by 0.6 percent compared to the previous month, while the annual inflation rate amounted to 0.8 percent

In October 2023 the Consumer Price Index increased by 0.6 percent compared to the previous month, while the annual inflation rate amounted to 0.8 percent, National Statistics Office of Georgia (Geostat) reports.

According to Geostat, with regard to the annual core inflation, the prices increased by 2.4 percent, while the annual core inflation without tobacco amounted to 2.1 percent.

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

Transport: the prices for the group increased by 3.6 percent, contributing 0.45 percentage points to the overall index. Within the group the prices increased for operation of personal transport equipment (5.6 percent). At the same time, prices decreased for transport services (-0.4 percent);

Clothing and footwear: the prices increased by 3.3 percent, contributing 0.13 percentage points to the overall monthly inflation rate. Prices were higher for both footwear (7.0 percent) and clothing (1.9 percent);

Alcoholic beverages and tobacco: the prices increased by 1.3 percent, contributing 0.09 percentage points to the overall index. Within the group, the prices were higher for both tobacco (1.4 percent) and alcoholic beverages (1.1 percent).

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

Miscellaneous goods and services: the prices for the group increased by 9.8 percent, contributing 0.52 percentage points to the overall index. Within the group, the prices were higher mainly for the following subgroups: financial services n.e.c. (26.3 percent), personal care (5.7 percent), personal effects n.e.c. (3.4 percent);

Alcoholic beverages and tobacco: the prices increased by 6.6 percent, with the relevant contribution of 0.45 percentage points to the overall index. The prices increased for both tobacco (6.8 percent) and alcoholic beverages (6.4 percent);

Housing, water, electricity, gas and other fuels: the prices for the group posted a 4.2 percent increase, which contributed 0.43 percentage points to the annual inflation rate. The prices were higher for the following subgroups: maintenance and repair of the dwelling (11.2 percent), actual rentals for housing (9.9 percent);

Transport: the prices for the group increased by 1.2 percent, contributing 0.22 percentage points to the overall index. Within the group the prices increased for transport services (4.8 percent) and purchase of vehicles (3.2 percent);

Food and non-alcoholic beverages: the prices for the group decreased by 1.2 percent, contributing -0.42 percentage points to the overall annual inflation rate. The prices decreased for the following subgroups: oils and fats (-24.4 percent), bread and cereals (-8.8 percent), milk, cheese and eggs (-2.9 percent), sugar, jam, honey, chocolate and confectionery (-1.2 percent). At the same time, the prices increased for the following subgroups: fruit and grapes (15.3 percent), fish (6.9 percent), vegetables (6.0 percent), meat (5.9 percent)," reads the report.

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