Georgia's inflation rate up

Georgia's annual inflation rate was 0.3% in February, the Georgian National Statistics Office reported.

Citing the office's data, price changes in the following categories influenced the formation of annual inflation the most:

various goods and services (up 8.6%); alcoholic beverages and tobacco products (up 5.5%); transportation (up 4.8%); food and non-alcoholic beverages (down 3.5%).

In terms of monthly inflation, the following categories had the greatest impact on price formation:

alcoholic beverages and tobacco products (up 1.9%); furniture, household items and household goods (up 1.4%); healthcare (up 0.8%); transportation (down 1.0%); clothing and footwear (down 4.6%).

"Inflation has been below the target level since March last year, and has been below 1% for the last five months. This indicates that economic growth occurs at the expense of productivity growth," Acting Governor of the National Bank of Georgia Natia Turnava said.