Georgia’s Consumer Price Index (CPI) increased by 2.8% y/y in July, while decreasing 0.3% compared to June 2018, state statistics agency Geostat said.
A 6.9% rise in transport costs was the biggest contributor to the annual increase in the CPI, pushing the index up by 0.93 of a percentage point (pp), followed by food and non-alcoholic beverages, which were up 2.3%, contributing 0.67 pp.
Meanwhile, clothing and footwear prices dropped by 8.3% y/y, dragging the index down by 0.32 pp. Prices decreased both for clothing (-8.5%) and footwear (-7.9%), the statistics agency said.
There was also a small (1.6%) decrease in communications prices, which had a -0.06pp impact on the index.
In monthly terms, the 1.1% decline in prices of food and non-alcoholic beverages was the main contributor to the decline, bringing the index down by 0.32pp, though there were also price declines in a variety of other categories including clothing and footwear, recreation and culture, and health, among others.
The main positive contribution again came from the transport sector (up 1.2%, contributing 0.15pp), while the only other sector to see a price increase was hotels and restaurants (0.2%; 0.01pp).