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4.2 Inflation 4.2.1 CPI dynamics
Inflation in Georgia slows to 6.5% in May
Consumer prices in Georgia edged up by 0.2% m/m in May while annual inflation decelerated to 6.5% y/y from 6.9% y/y in April, according to statistics office Geostat.
With regard to annual core inflation, prices moved up by 5.9%, while annual core inflation excluding tobacco prices amounted to 5.4% .
Prices of food and non-alcoholic beverages increased by 14.7% y/y, contributing 4.58pp to the overall annual inflation rate.
Within the group, fruit and grape prices soared by 47.1% , milk, cheese and egg prices by 24.6%, the fish price by 17.1% and sugar, jam, honey, chocolate and confectionery by 14.5%. Double digit growth rates were posted for coffee, tea and cocoa (13.9%), meat (13.5%) and oils and fats (13.1%).
As for transport, prices fell by 4.6%, resulting in a -0.57pp contribution to the overall annual inflation rate.
18 GEORGIA Country Report July 2020 www.intellinews.com
