As reported by the National Bank of Georgia, the annual inflation included 6.4% in January 2020, while the prices increased by 0.7% compared to December 2019.
According to the National Bank of Georgia, the 10% increase of the Imeretian cheese influenced inflation most significantly in January (0.3%).
Imported cigarettes price increased by 3% (influence on inflation – 0.1%).
The cost of traveling abroad dropped by 17% that reduced the monthly inflation with 0.2%.
Under the National Bank of Georgia, Imeretian cheese and cigarettes contributed significantly to the January inflation.
The growth of the prices of cattle meat, apple, and petrol influenced inflation with 0.8% in total.
The annual inflation of food reached 11.8% in total.
The primary inflation was significantly less than total inflation in January and included 3.4% annually.
The observation on primary inflation is essential for the assessment of the long-term trend of the price level.
The annual inflation reached 5.7% on imported goods, and 7.2% on the locally produced products in January 2020. The mixed goods' price increased by 5.4%.
Thus, the prices on the goods of short and long-term use grew by 1.5% and 0.3%, respectively.
Prices on the goods of average-term use and service dropped by 1.5% and 0.3%, respectively.
The annual rates of the prices on the goods of short and long-term use grew by 8.6% and 4.7%, respectively. The service cost increased by 3.9%, while the prices on the products of average-term use dropped by 0.2%.
Bela Gelashvili
News Author