Georgia’s annual inflation rate stood at 5.5% in July, while consumer prices fell by 0.4% compared to June, according to data released by the National Statistics Office of Georgia (Geostat) on August 3.
The annual inflation rate was driven mainly by higher prices in transport (14.2%), housing, water, electricity, gas and other fuels (8.3%), restaurants and hotels (7.9%), miscellaneous goods and services (7.6%), alcoholic beverages and tobacco (5.6%), food and non-alcoholic beverages (4.9%), and health (4.7%). Meanwhile, communication prices declined by 6.3%.
Within the food-related category, the highest annual price increases were recorded for fish (18.2%), meat (9.2%), bread and cereals (8.1%), oils and fats (7.6%), coffee, tea and cocoa (6.4%), milk, cheese and eggs (4.2%), fruit and grapes (2.5%), sugar, jam, honey, chocolate and confectionery (1.7%), and mineral water, soft drinks, and fruit and vegetable juices (1.5%). Vegetable prices, by contrast, fell by 5.7% year-on-year.
The monthly declines were recorded for vegetables (-12.3%), fruit and grapes (-2.8%), sugar, jam, honey, chocolate and confectionery (-0.8%), mineral water, soft drinks, and fruit and vegetable juices (-0.5%), meat (-0.3%), and fish (-0.1%). Prices increased for coffee, tea and cocoa (2.3%), milk, cheese and eggs (2.1%), oils and fats (1.2%), and bread and cereals (0.7%).
The latest figures come after the disputed parliament’s commission examining the pricing structure of food products, medicines, and fuel concluded its three-month work in May. The commission found that elevated prices are primarily linked to “inefficient operational costs,” with its chair, MP Shota Berekashvili, calling for “targeted” reforms instead of what he described as “aggressive interference.”
The European Commission’s latest European Economic Forecast projects inflation to remain elevated in 2026 due to high energy prices. According to Fitch Ratings, one of the major credit rating agencies, inflation in Georgia will “remain high over the coming months and decline gradually thereafter towards the 3% target.”
Annual inflation amounted to 5.8% in June.
Also Read:
