Geostat: In July, compared to the previous month, the inflation level in Georgia was 0.4%, and the annual inflation level was 1.8%

According to the information of the National Statistics Service of Georgia, in July 2024, compared to the previous month, the inflation level in Georgia was 0.4 percent, and the annual inflation level was 1.8 percent.

As for the base inflation, as stated in the information released by "Geostat", this indicator in July 2024 was 1.2 percent compared to the corresponding period of last year, and the annual base inflation without tobacco was determined at 1.1 percent.

"The formation of the monthly inflation indicator was mainly influenced by the price changes in the following groups: prices in the food and non-alcoholic beverages group decreased by 0.7 percent, which reflected the monthly inflation by -0.24 percentage points. Prices decreased for the following subgroups: vegetables and garden vegetables (-6.1 percent), fruits and grapes (-2.2 percent), milk, cheese and eggs (-1.6 percent), meat and meat products (-0.6 percent), fish (-0.1 percent). . In addition, in the given period, prices have increased for the following subgroups: sugar, jam and other sweets (3.8 percent), oil and fat (2.2 percent), coffee, tea and cocoa (1.8 percent); Clothing and footwear: prices in the group decreased by 2.1 percent, which reflected the month's inflation by -0.08 percentage points. Prices decreased for both clothing (-2.1 percent) and footwear (-1.8 percent) subgroups; Various goods and services: compared to the previous month, the prices increased by 1.4 percent, which was reflected by 0.07 percentage points in the month's inflation. Prices increased for the subgroups: financial services (4.2 percent), personal hygiene (0.7 percent), and personal items, not included in other categories (0.3 percent).

The formation of annual inflation was mainly influenced by price changes in the following groups: prices in the transport group increased by 9.4 percent, which was reflected in the overall index by 1.12 percentage points. Prices increased for the operation of personal vehicles (12.3 percent), transportation services (5.6 percent), and the purchase of vehicles (3.3 percent); Food and non-alcoholic beverages: Prices in the group increased by 1.4 percent, reflecting annual inflation of 0.48 percentage points. Prices increased for the following subgroups: fruits and grapes (22.5 percent), sugar, jam and other sweets (5.7 percent), coffee, tea and cocoa (4.9 percent), mineral and spring water, non-alcoholic beverages and natural juices (3.5 percent), vegetables and horticulture (2.7 percent), meat and meat products (0.9 percent). At the same time, prices decreased for subgroups: oil and fat (-3.8 percent), bread and bakery products (-2.5 percent); Alcoholic beverages, tobacco: prices in the group increased by 4.3 percent, reflecting annual inflation by 0.29 percentage points. Prices increased for both alcoholic beverages (5.7 percent) and tobacco products (2.6 percent); Housing, water, electricity, gas: prices in the group decreased by 2.8 percent, which was reflected in the annual index by -0.22 percentage points. "Prices have been reduced for the subgroup of electricity, gas and other types of heating (-5.3 percent)," the information said.